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Signature(s)

Amount
€ 210,000,000
Countries
Sector(s)
Austria : € 210,000,000
Urban development : € 210,000,000
Signature date(s)
17/06/2008 : € 105,000,000
28/10/2009 : € 105,000,000
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Summary sheet

Release date
3 April 2008
Status
Reference
Signed | 17/06/2008
20070451
Project name
Promoter - financial intermediary
Wiener Wohnen Stadtteilsanierung
Stadt Wien – Wiener Wohnen :The promoter is Vienna’s social housing vehicle. As probably Europe’s largest landlord, Wiener Wohnen manages 2 000 buildings comprising 220 000 individual flats spread across the city. Its mission is to provide rental low-cost housing of adequate standard for low-income households qualifying for support
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 210 million
EUR 420 million
Location
Sector(s)
Description
Objectives

The present operation concerns the financing of the extensive rehabilitation and upgrading programme of the rental social housing stock of Wiener Wohnen to bring it up to contemporary housing quality standards. The improvement measures will lead to an increase in the building value, a reduction in energy use and emissions and to better living and health conditions for the tenants.  Furthermore it will help to transform neighbourhoods characterised by deprivation and dilapidation into more sustainable urban communities.

The proposed operation will finance the rehabilitation of 14,000 of the 30,000 units that still require upgrading to acceptable standards, allowing the promoter to invest some EUR 100 million per year.

Environmental aspects
Procurement

Compliance with the EU environmental directives and national laws shall be ensured.  Given the scale and nature of the sub-projects – modernising, rehabilitation of the social housing stock, upgrading of associated urban infrastructure – there is no need for an EIA.

The promoter, the City of Vienna’s housing company, will be required by the Bank to ensure that contracts for the implementation of the projects have been/shall be tendered in accordance with the relevant applicable EU procurement legislation with publication of tender notices in the EU Official Journal as and where appropriate.

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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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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