Release date: 29 August 2014
Promoter – Financial Intermediary
MUNICIPALITY OF BUDAPESTLocation
Description
The project concerns the financing of different investment schemes in the city of Budapest within its Integrated Urban Development Strategy, mainly in the field of solid waste, water, energy efficiency and rehabilitation of public areas and possibly also other sectors.
Objectives
The improvement and upgrading of municipal infrastructure is a pre-condition for the City's continuing economic development and a prerequisite to increase its attractiveness to investors. The project should simultaneously improve the quality of life of its citizens, upgrade the urban environment and help realise the value of existing resources such as cultural and historical attractions.
Comments
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Sector(s)
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
- Solid waste - Water supply; sewerage, waste management and remediation activities
- Composite infrastructure - Construction
- Urban development - Construction
- Energy - Electricity, gas, steam and air conditioning supply
- Services - Administrative and support service activities
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 1097 million
Environmental aspects
Some of the schemes might fall under Annex I or Annex II of the EIA Directive 85/337/E2011/92/EC, as amended. If any scheme were to have a negative impact on an area forming part of Natura 2000 network (falling under Habitats Directive 92/43/EEC or Birds Directive 79/409/EEC) the Bank would require the promoter to act according to the provisions of the aforementioned directives as transposed into national law.
Procurement
The promoter, as a public administration entity, is required to follow EU public procurement rules (2004/17/EC and 2007/18/EC) including publication of contract notices in the EU Official Journal as implemented by national law, if and where appropriate. Projects with values below the EU thresholds will be procured according to the provisions laid down in national or regional legislation.
Status
Signed - 29/12/2015
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).