Belgium: €250 million EIB loan for SWCS for home energy efficiency retrofits in Wallonia

• The European Investment Bank is helping SWCS to finance energy efficiency retrofits for more than 16 500 homes in Wallonia.
• The funds will support the Rénopack and Rénoprêt schemes, helping to finance energy efficiency upgrades in homes occupied by the region’s most vulnerable households.
• This new operation exemplifies the EIB’s strategic priorities of supporting Europe’s housing sector and the energy transition, in line with its Climate Bank Roadmap and REPowerEU.

The European Investment Bank (EIB) has signed a financing agreement with Société Wallonne du Crédit Social (SWCS) to support home energy efficiency retrofits in the Walloon Region. The €250 million loan – the first tranche of a €500 million package for SWCS to be drawn down over three years – will help the regional credit institution extend affordable home retrofit loans to households.

Signed today in Namur, with Minister-President of Wallonia Adrien Dolimont and the Walloon Minister for Housing Cécile Neven in attendance, the agreement will provide SWCS with the means to finance more than 16 500 energy efficiency retrofits of single-family homes and flats by the end of 2027. The EIB loan will support SWCS’s Rénopack and Rénoprêt schemes, ensuring that energy efficiency upgrades reach the region’s most vulnerable households.

Chief Executive Officer of SWCS Nathalie Ombelets welcomed the agreement: “This loan from the European Investment Bank enhances SWCS’s ability to drive forward Wallonia’s energy transition priorities. The EIB’s confidence in our institution is a strong endorsement of our ongoing mission. This partnership will diversify our funding base, reinforce our impact and give us the leverage needed to step up investment in energy efficiency retrofits, so we can support households sustainably.”

EIB Vice-President Robert de Groot said: “Fighting global warming is not just a matter of expanding renewables or reducing pollution. Our homes are, in fact, one of the primary sources of greenhouse gas emissions. In Wallonia, SWCS plays a vital role in supporting first-time buyers and vulnerable households, and we are pleased to be supporting their efforts while fulfilling our role as the EU climate bank.”

Minister-President of Wallonia Adrien Dolimont said: “With this EIB support, we will be able to retrofit more than 16 500 homes in the region. This sends a clear signal of Wallonia’s commitment to more efficient, more inclusive and more sustainable housing.”

Walloon Minister for Housing Cécile Neven said: “With this EU financing, we will continue to retrofit housing across Wallonia. Our priority is straightforward: helping households reduce their energy bills and CO₂ emissions, while improving housing quality. Every euro of public funding must be used effectively, which is why we will focus our efforts on retrofits that deliver a measurable, direct impact. The Rénopack scheme enables households to benefit directly from regional support. Through this partnership with the EIB, together with the work of SWCS, we are making retrofits more accessible, more transparent and more effective for families in Wallonia.”

This EIB financing demonstrates the European Union’s commitment to local communities and initiatives that promote better housing, climate action and social inclusion. It strengthens the EIB’s contribution to the economic development of Wallonia and supports the region’s energy and environmental strategy. By indirectly supporting the construction sector, the EIB’s financial backing will also help create and sustain jobs in the region. It is fully aligned with the European Commission’s REPowerEU initiative.

The favourable terms of the EIB loan will enable SWCS to mobilise additional resources, including public grants and other bank loans.

Note to editors

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, it finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of annual EIB Group financing supports projects that directly contribute to climate change mitigation and adaptation, and a healthier environment.

Since 2001, Société Wallonne du Crédit Social (SWCS) has been helping people in Wallonia become homeowners, access rental housing and renovate their homes, through tailored support and loans designed for those unable or struggling to secure financing from traditional banks.