Release date: 24 May 2016
Promoter – Financial Intermediary
GEWOFAG WOHNEN GMBHLocation
Description
The project concerns the financing of an investment programme of primarily new construction and also some retrofitting of rented social and affordable housing in 2016-2020 by GEWOFAG, one of the City of Munich's housing companies which owns and manages some 35,000 units.
Objectives
The proposed operation is expected to comprise new construction of rented social housing and, to a lesser extent, comprehensive retrofitting and adaption of existing social housing units. The investments will need to satisfy the EIB's eligibility criteria for urban renewal and sustainable communities. The housing investments are anticipated to form part of specific local integrated urban development plans (INSEKs/ Integrierte Stadtentwicklungskonzepte).
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 290 million
Total cost (Approximate amount)
EUR 670 million
Environmental aspects
Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU (as amended by Directive 2014/52/EU), EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal.
Procurement
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 EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 14/07/2017
Disclaimer
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 the Explanatory notes).