The European Investment Bank (EIB) has agreed to lend EUR 21.1m, the first tranche of an approved EIB loan of EUR 63.6m, for financing the third phase of the energy efficiency investment programme of Bucharest Sector 2. In total, 400 residential buildings will benefit from upgraded energy efficiency under this third phase, in addition to the 452 buildings under the first two phases.
EIB Vice-President Andrew McDowell commented: "EIB funds will help to increase the energy efficiency of 400 residential buildings in Bucharest''s Sector 2. The resulting decrease of energy consumption, and thus a reduction in emissions and pollution, will also contribute to raising the living standards of Bucharest''s citizens. This climate action focused programme will further support Romania in meeting its international commitments regarding greenhouse emission reductions and energy savings."
The Mayor of Bucharest''s Sector 2 Mihai Mugur Toader stated: "The loan signed today will enable us to continue with the largest thermal rehabilitation programme in Romania, which involves almost 1,800 blocks that are in various stages of execution, most of them being completed. It builds upon the fruitful seven-year cooperation between Sector 2 of Bucharest and the EU bank, in the course of which we have also benefited from EIB technical assistance. This cooperation has helped us to prepare and successfully implement joint projects leading to the improvement of living conditions for our citizens, valuable energy savings and a better environment in the Romanian capital".
The improved thermal insulation of buildings will lead to 50% savings in the heating energy consumption of the houses concerned. EIB funds will finance up to 75% of the costs of this significant energy saving project, helping to implement both the Romanian Government''s National Energy Efficiency Action Plan and the EU Resource Efficiency Initiative.
The current operations represent a continuation of the EIB''s fruitful cooperation with various sectors of Bucharest. To date, the Bank has approved funding amounting to EUR 613m to finance the energy efficiency refurbishment of multi-apartment buildings in different sectors of Bucharest.
The total energy savings achieved or envisaged as a result of the energy efficiency measures amount to 983,000 GWh per year, corresponding to a 416,000 tonnes of CO2 reduction.
Financing of energy efficiency measures comprising thermal retrofit of existing public and residential buildings as well as construction of new schools as Near Zero Energy Buildings (NZEB) in Bucharest S6
The European Investment Bank (EIB) is lending EUR 22.47 million - the first tranche of an approved EIB loan for a total amount of EUR 42 million - to finance the second phase of the refurbishment programme for multi-family housing in the municipality of Sector 4 in Bucharest.
The EIB is lending EUR 19.5 million – the second tranche of an approved EIB loan of EUR 42 million – to finance the second phase of the refurbishment programme for multi-family housing in the Sector 4 municipality in Bucharest.
The European Investment Bank (EIB) is providing EUR 22.47 million - the first tranche of an approved EIB loan for a total amount of EUR 136.5 million - to finance the second phase of the refurbishment programme for multi-family housing in the Sector 1 municipality of the Romanian Capital of Bucharest. The project is expected to result in around 50% savings in the heating energy consumption of the buildings concerned.
The project consists of the financing of the 3rd phase of Bucharest Sector 2''s thermal rehabilitation programme to improve energy efficiency in 400 residential buildings located in Bucharest Sector 2. This project falls under the Smart Finance for Smart Buildings ("SFSB") Initiative, a joint initiative of the EIB Group and the European Commission (EC) aiming at supporting Energy Efficiency investments in buildings.
This investment concerns the third phase of the refurbishment programme of multi-family housing in the municipality of Sector 2 in Bucharest and it will contribute to the SFSB (Smart Finance for Smart Buildings) initiative. Approximately 400 buildings shall be refurbished. The project will focus on thermal energy efficiency improvements of the building envelope (wall insulation, windows, roofs and cellar insulation) as well as optimisation of the heating systems.
This operation intends to bring environmental benefits by supporting measures, which reduce energy consumption, and help to mitigate climate change. The buildings to be rehabilitated are expected to have limited negative environmental impact during construction. Given the scale, location and nature of the sub-projects an environmental impact assessment (EIA), as defined under the EIA Directive 2014/52/EU amending the 2011/92/EU, is normally not required. The operation will comply with the requirements of the Energy Performance of Buildings Directive 2010/31/EU.
The promoter is a public entity and therefore public procurement rules will apply. The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable national and EU procurement legislation (Directive 2014/24/EU as well as Directives 89/665/EEC and 92/13/EEC), which may include publication in the OJEU where appropriate.
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Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative. They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also theExplanatory notes).
PARIS – The Council of Europe Development Bank(CEB) has approved a € 47 million loan to support a set of priority social andenvironmental investments in Bucharest, such as energy efficiency improvementsto residential and public education buildings, the construction of new socialhousing units, and enhanced social assistance facilities for vulnerable people.
The project concerns "Sector 6" of Bucharest,the capital''s second largest district and home to about 400 000 people or 20%of the city''s total population. About 10% of inhabitants in this area are inneed of social assistance. Most of the residential and public buildings in thedistrict date back to 1950-1990, have a low energy efficiency index and anegative impact on the environment.
The CEB is financing energy efficiencyimprovements in more than 100 multi-family residential buildings and inthirteen state schools and kindergarten buildings. The CEB funds will alsocontribute to the construction and retrofitting of eight after-schoolfacilities and kindergartens to high environmental standards, which will turnthe new developments into ''nearly-zero-energy buildings''.
In addition, the loan provided by the CEB willenable the construction of 246 social housing units comprising apartments ofvarying sizes, highly energy-efficient, and built to modern standards. Thesewill provide affordable housing to low-income inhabitants of Bucharest''s 6thdistrict and reduce energy consumption by about 40%.
The CEB is also financing a food bank and asocial canteen which will deliver much-needed social services and basic food tovulnerable groups living in Sector 6, such as elderly persons, single motherswith children, ethnic Roma, and unemployed or disabled persons. It is estimatedthat some 18 000 vulnerable persons will benefit from these services on anannual basis.
CEB Governor Rolf Wenzel said: "The CEB is wellaware of the challenges faced by local authorities when it comes to securingfinancing for their social policies. The CEB has worked on further adapting itsfinancing instruments, particularly under its new Development Plan 2020-2022,in order to provide sub-national governments with the resources required sothey can implement their social investment plans. We are pleased to support Bucharest''sSector 6 in addressing key social inequalities and creating betteropportunities for socio-economic growth while contributing to Romania''s environmentalsustainability commitments."
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