HELABA NGN (EIB-20230680)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Germany
Geographic location where the impacts of the investment may be experienced.
Specific Location
Nuremberg
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
Jun 4, 2024
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
Helaba Landesbank Hessen-Thüringen
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Education and Health
  • Energy
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.
Investment Amount (USD)
$ 65.04 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 60
Converted using 2024-02-27 exchange rate.
Loan Amount (USD)
$ 65.04 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 EUR 60 million
Converted using 2024-02-27 exchange rate.
Project Cost (USD)
$ 130.09 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 EUR 120 million
Converted using 2024-02-27 exchange rate.
Bank Documents
Media Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Jan 27, 2025

Disclosed by Bank Feb 27, 2024

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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 EIB, the project will finance the renovation and extension of the New Grammar School Nuremberg (NGN), a secondary school for 1025 students in the City of Nuremberg. It will be implemented by WBG Kommunal GmbH, a public housing construction company of the City of Nuremberg.

The renovated and extended school building will be designed to enable the implementation of new competence-centred pedagogical concepts and will include a theatre and art and craft rooms, with the aim to foster pupils' acquisition of a wide range of skills.

The school is planned as a low-energy building with an energy efficiency above the regulatory requirements. The installation of photovoltaic systems is foreseen on all possible roof surfaces.

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

The information provided by the EIB is contradictory. The project disclosure page states that the investment amount is equal to EUR 60 million, but the related press article states that the EIB is providing a EUR 81 million loan; similarly, the total project cost is EUR 120 million on the project disclosure page, and EUR 175 million in the press release.
The EWS staff will file a request for information to the bank, as soon as the website of the EIB will be again available, to clarify these discrepancies in the disclosed information.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, Landesbank Hessen-Thueringen Girozentrale, doing business as Helaba Landesbank Hessen-Thueringen, provides banking services. The Bank offers savings accounts, corporate financing, online banking, investment management, and business development services. Helaba Landesbank Hessen-Thueringens serves customers worldwide.

WBG Kommunal GmbH is a public housing construction company of the City of Nuremberg, founded in 22 March 1918.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
WBG Kommunal GmbH Contractor Construction contracts with Sparkasse Nürnberg Undisclosed Finance

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 project contacts provided at the time of disclosure.

Financial Intermediary - Helaba Landesbank Hessen-Thüringen:

Address: Main Tower, Neue Mainzer Str. 52-58, 60311 Frankfurt/M.
Website: https://www.helaba.com/

Implementing Agency - WBG Kommunal GmbH:

Address: Glogauer Strasse 70, 90473 Nürnberg
Phone: +49 0911/8004-0
Website: https://wbg.nuernberg.de/

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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