MANAGUA URBAN INFRASTRUCTURE FRAMEWORK LOAN (EIB-20160411)

Countries
  • Nicaragua
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Sectors
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EIB website

Updated in EWS Nov 21, 2017

Disclosed by Bank Aug 24, 2016


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Project Description
LOCATION Nicaragua DESCRIPTION Framework loan to co-finance a multi-scheme operation in Managua, Nicaragua, contributing to climate action and/or circular economy objectives. The operation includes urban development and renewal, urban infrastructure, sustainable mobility and strengthening of the storm-water drainage system. OBJECTIVES The proposed project is in line with EIB's External Lending Mandate 2014-2020 (ELM) as it will contribute to the fulfilment of ELM's objectives of (i) climate change mitigation (i.e. replacing private vehicles with cleaner public transport and improving fuel use efficiency through reduction of traffic congestion), and (ii) supporting social and economic infrastructure (i.e. improving public transport and road safety) in Managua. Also, the project will support the development of the private sector (i.e. operation of the public transport service as well as tourism and other economic activities). ENVIRONMENTAL ASPECTS If the project had been located in the EU, the bus rapid transit scheme and the road rehabilitation schemes a€" the main project components - would have fallen under Annex II of Directive 2011/92/EU on environmental impact assessment (EIA). EIA requirements for any other scheme will be reviewed at allocation stage. Cumulative impact of the programme and compliance of the Urban Development Plan with the principles of the Strategic Environmental Assessment (SEA) Directive 2001/42/EC will be assessed at appraisal. PROCUREMENT The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Investment Description
  • European Investment Bank (EIB)
Contact Information
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