MADRID HEALTHCARE INVESTMENTS (EIB-20190114)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Spain
Geographic location where the impacts of the investment may be experienced.
Specific Location
Madrid
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 11, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
COMUNIDAD AUTONOMA DE MADRID
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 265.31 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 250
Converted using 2022-12-19 exchange rate.
Project Cost (USD)
$ 549.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 518
Converted using 2022-12-19 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jan 13, 2023

Disclosed by Bank Dec 19, 2022


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank website, the project concerns investments in hospitals and primary care centers in the region of Madrid and comprises the construction and equipping of medical facilities.

Hospitals, primary care centres, etc. are not specifically mentioned in the environmental impact assessment directive 2011/92/EU amended by Directive 2014/52/EU, though the project is covered by Annex II of the Directive in relation to urban development. The Bank's services will verify during appraisal the screening decision of the competent authority.

In line with Directive 2010/31/EU, the new and rehabilitated buildings will have to meet at least the relevant national targets on energy efficiency. The energy performance of the hospital and any specific related targets to be met, will be verified during appraisal.

It is expected that the project will bring wider benefits to the community as healthcare is an element of social cohesion and economic development.

The Bank will encourage the Promoter to take into account the circular economy principles during the development and future operation of the project.

The project supports selected healthcare investments conducted by the Comunidad Autónoma de Madrid (CAM) including the new construction, rehabilitation and equipment of 6 medium and longterm care hospitals and 11 primary care centres in the Madrid region, extension and modernisation of clinical departments within 5 hospitals and the renovation of high complexity medical equipment in hospitals and clinics.

The project will address the issues of aging population and access to healthcare services in the Madrid region. It will also improve the quality of healthcare services by supporting the purchase of high-end, up to date medical equipment.

The project will be located in the Autonomous Community of Madrid.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contact information was provided at the time of the disclosure. 

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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