SOCIAL AND AFFORDABLE HOUSING STUTTGART

The project consists of an investment loan to finance high energy efficient social and affordable housing new constructions and retrofitting in the city of Stuttgart.

The investment loan concerns the financing of an investment programme of comprehensive retrofitting and new construction of rented social and affordable housing. The promoter is a large housing provider in the city. Housing demand and need for households with low income is very robust. The project will contribute to alleviating the shortages in the city's social and affordable housing supply. Stuttgart with a population of 628 000 is the Capital of the federal state of Baden-Wurttemberg (population 11.02 million) in the south-west of Germany. According to the city's long-term housing plan, between 2012 and 2030 an additional population of more than 6% is forecast. The new housing is expected to achieve an energy efficiency performance above legal building standards (near zero energy/KfW 55 standard), to be supported partly by KfW funding.

Compliance with the relevant EU Directives will be verified during the appraisal: the Environmental Impact Assessment (EIA) Directive 2011/92/EU, the Strategic Environmental Assessment (SEA) Directive 2001/42/EC, the Habitats Directive 92/43/EEC and the Birds Directive 2009/147/EC. Applicable energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during the appraisal.

The promoter is subject to public procurement. 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 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.