SUSTAINABLE URBAN DEVELOPMENT IN GREECE

Promoter – Financial Intermediary

HELLENIC REPUBLIC

Location

• Greece

Description

Framework Loan to support local governments in multi-sector investments aimed at sustainable development of urban areas.

Objectives

The project is an intermediated Framework Loan operation in support of two programmes launched by the Ministry of Interior and the Ministry of Environment & Energy, aiming to support municipalities, regional authorities and their agencies in order to invest in a wide range of projects contributing to the sustainable development of urban areas. 1. The first programme concerns the implementation of infrastructure projects; 2. The second programme concerns the implementationof local spatial plans (LSPs), namely integrated plans and related interventions.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 500 million

Total cost (Approximate amount)

EUR 2300 million

Environmental aspects

Compliance with the relevant EU Directives will be verified during appraisal stage: EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU, SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed.

Procurement

The Bank will require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 16/03/2021