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    € 49,000,000
    Spain : € 49,000,000
    Urban development : € 49,000,000
    Signature date(s)
    1/03/2019 : € 49,000,000
    Link to source

    Summary sheet

    Release date
    11 December 2018
    Signed | 01/03/2019
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 49 million
    EUR 99 million

    The project involves the construction of new social housing units for rent; the energy efficiency and accessibility refurbishments of existing social housing units, falling under the Smart Finance for Smart Buildings (SFSB) initiative; and improvements to the urban environment in municipalities in the Madrid region.

    The project concerns the construction of new social housing units and the energy rehabilitation of existing housing stock in the region of Madrid, where demand for social housing is unmet. The project will contribute to the climate action priorities of the Union and the energy efficiency target of Spain.

    Environmental aspects

    Given the relative scale, location and nature of the works in built-up urban areas, all of the works are deemed to have no significant negative environmental or social impact. Exceptionally, a work may fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended). In these cases the Bank will require the promoter to act according to the provisions of the aforementioned Directive as transposed into national law leaving it to the competent authority to decide in line with the Directive whether an EIA procedure is needed or not. The Bank will review relevant permits, public consultations and authorisation processes during appraisal, including mitigation / compensation measures to be taken and any potential effects on nature conservation sites (Habitats Directive 92/43/EEC and Birds Directive 79/409/EEC). Currently there is no Nearly zero-energy buildings (NZEB) requirement definition in Spain so the proposed operation must accomplish the reference values published in the Commission recommendation (EU) 2016/1318: net primary energy consumption should be lower or equal to 40 kWh/m2/y. After completion of works, new buildings and refurbished buildings will contribute to reduce the energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation).

    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 2014/23/EU / 2014/24/EU, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

    Related projects
    Link to source


    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).


    Environmental and Social Data Sheet (ESDS) - MADRID SOCIAL HOUSING SFSB
    Publication Date
    10 Jan 2019
    Document language
    Main Topic
    Document Number
    Document Focus
    Environmental Information
    Project Number
    Publicly available
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