LATVIA PPP AFFORDABLE HOUSING PROJECT

The project concerns the construction and maintenance of modern, energy efficient and affordable rental housing for young key workers and their families in Latvia, delivered under a public sector supported programme. This is the first bundle of a wider programme, delivering 1,290 apartments across 6 municipalities. It will be implemented through an availability-based public-private partnership (PPP) using a Design-Build-Finance-Maintain-Operate (DBFMO) model, with performance-based availability payments to the private partner.

The project aims to address a structural shortage of affordable, energy-efficient rental housing in Latvia, including outside the capital region, where market supply remains insufficient. By supporting the development of new housing through a coordinated national and municipal public-private partnership (PPP) programme, the project is expected to improve access to affordable housing and contribute to more balanced territorial development. It is also expected to contribute to the EIB Group’s Green Finance objectives through the delivery of energy-efficient buildings, thereby reducing energy consumption and greenhouse gas emissions.

Compliance with the relevant EU Directives will be verified during appraisal stage: Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by the EIA Directive 2014/52/EU, Strategic Environmental Assessment (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 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 as amended by Directive 2024/1275/EU will also be further assessed.

The Promoter shall ensure that the selection of the concessionaire is tendered in accordance with the applicable EU procurement legislation, in particular Directive 2014/23/EU, where applicable, as well as Directive 89/665/EEC, as interpreted by the Court of Justice of the European Union, with publication of the relevant notices in the Official Journal of the European Union, as required.