WOLFSBURG SOCIAL AND AFFORDABLE HOUSING

The project consists of the construction and retrofitting of highly energy efficient social and affordable housing units for rent in the city of Wolfsburg, Germany.

The operation will finance an investment programme aimed to increase the number of available social and affordable housing units and to carry out comprehensive upgrades to the existing housing stock. The operation is expected to ameliorate shortages in social and affordable housing supply for low- and medium-income households and contribute to urban regeneration and renewal. Part of the investment programme will aim to improve the energy efficiency of the housing units and to reduce the CO2 footprint. The housing investments concerned are envisaged to form part of specific local integrated urban development plans (INSEKs / Integrierte Stadtentwicklungskonzepte).

National environmental legislation has been harmonised in line with the relevant EU Directives 2011/92/EU Directive (EIA) and 2001/42/EC (SEA). The Bank's appraisal will focus on the Promoter's environmental management capacity to properly apply the EU SEA Directive 2001/42/EC, the EU EIA Directive 2011/92/EU, as well as the requirements of the EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC, where appropriate. The applicable energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU, as well as the status of any environmental studies and public consultations related to the housing investments will also be reviewed during project appraisal.

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions.