According to the European Investment Bank, the project consists of a framework loan to finance a climate-change resilience initiative, which will support the reconstruction of infrastructure damaged by flooding in the Dominican Republic.
EIB-led assistance will be built on the following principles:
This initiative will focus on climate/earthquake-resilient infrastructure, particularly social housing, urban infrastructure (including in some cases health and education basic infrastructure), access roads and hydraulic works.
The majority of the investments foreseen by the European Investment Bank are reconstruction, repairs and refurbishment under proper flood-resilient and anti-seismic standards of collapsed and damaged infrastructure in the sectors mentioned above.
If roads are to be financed from this operation, they will be constructed within existing rights of way or on new alignments over short sections.
The investments foreseen by the operation will be subject to environmental screening in line with the requirements of the EU directive (EU Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU), to determine the need for an EIA as well as potential impact on natural habitat and protected species.
The European Investment Bank says that the environmental impact from roads are likely to be minor. A stakeholder engagement framework and a resettlement policy framework will be prepared in line with EIB Environmental and Social Standards.
Project contact information not available at the time of disclosure.
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