UKRAINE SOLIDARITY PACKAGE - NRW BANK MBIL

Promoter – Financial Intermediary

NRW.BANK

Location

• Germany

Description

The operation consists in a multiple beneficiary intermediated loan (MBIL) to support the refugee accommodation programme of NRW.BANK. T The MBIL comprises new construction (including temporary accommodation), modernisation, conversion and expansion of accommodation facilities located in the Land of North Rhine-Westphalia.

Additionality and Impact

Current refugee reception capacity is close to reaching its limits and this Operation will contribute to increasing and improving the existing supply. Investments are justified based on the broader social benefit and the positive impact that adequate accommodation will have on the refugee population in North-Rhine Westphalia, which will improve their living conditions and their overall quality of life.

The EIB's advantageous and flexible loan contributes to the diversification and stability of the financing sources of NRW.Bank. The maturity of the tranches combined with a possibility of choosing either Euro or USD are of value to the Borrower, as are the possibility under this special Programme Loan related to the refugee crisis to fund 100% of the Project Investment Cost.

Objectives

The aim is to support the Land implementing all activities related to refugees and migrants hosting and consequent social issues, which have increased since the outbreak of the war in Ukraine. The EIB financing will contribute to achieve many of the UN Sustainable Development Goals and support investments related to the adoption of the Temporary Protection Directive. It will also contribute to the EU Public Policy Goal of Economic and Social Cohesion, since most of the expenditures concern less-developed regions, under the EIB's Cohesion priority regions objective.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 200 million

Total cost (Approximate amount)

not applicable

Environmental aspects

The EIB will ensure that the promoters comply with the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU), as well as Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively).

Procurement

The EIB will ensure that the contracts to implement the projects will be tendered in accordance with the EU procurement legislation Directive 2014/24/EU, as well as 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 - 8/03/2024