MALAGA SOCIAL AND AFFORDABLE HOUSING I

The project consists of the construction of approximately 525 social and affordable housing units for rent in the city of Malaga.

The operation aims to contribute to the provision of newly-built social and affordable housing for rent in the city of Malaga, which is expected to improve the quality of life of the most vulnerable groups of society particularly those in the lowest-income brackets and is expected to promote greater social inclusion. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest.

It is foreseen that the operation's environmental impact at the construction stage will be short-lived and reversible, and at a level deemed acceptable. Some of the expected negative effects include traffic and dust during construction, which will be alleviated by appropriate site organisation and construction management. Pollutants from heating systems, industrial processes and waste management will be mitigated through the use of proven technologies and compliance with national legislation. In addition, effective mitigation measures will be put in place such as drainage systems, reinstatement of damaged vegetation with local species, etc. The construction of the new social housing units will meet good environmental standards and will contribute to maintain and improve the quality of the built environment. Spain, as an EU Member State, has harmonised its environmental legislation with the relevant EU Directives: the Environmental Impact Assessment (EIA) Directive 2014/53/EU amending the 2011/92/EU, the Strategic Environmental Assessment (SEA) Directive 2001/42/EC, the Habitats Directive 92/43/EEC, the Birds Directive 2009/147/EC and the Energy Performance of Buildings Directive 2010/31/EU. None of the project components, given their size and nature, will require an EIA. The project does not require a SEA per se as the entire project is part of a General Urban Plan, which has undergone a SEA. None of the project components will be located inside or near a Natura 2000 area and there will be no impacts on any protected site.

The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.