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Signature(s)

Amount
€ 100,000,000
Countries
Sector(s)
Italy : € 100,000,000
Urban development : € 100,000,000
Signature date(s)
22/12/2020 : € 100,000,000
Link to source

Summary sheet

Release date
11 November 2020
Status
Reference
Signed | 22/12/2020
20200679
Project name
Promoter - financial intermediary
REDO LOMBARDY SOCIAL HOUSING
INTESA SANPAOLO SPA,REDO SOCIETA DI GESTIONE DEL RISPARMIO SPA - SOCIETA BENEFIT
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200 million
EUR 414 million
Location
Sector(s)
Description
Objectives

The project will primarily support investments for the construction of energy-efficient affordable housing (Edilizia Residenziale Sociale) units in the Lombardy Region, and to a minor extent social housing (Edilizia Residenziale Pubblica) and student housing units (Edilizia Scolastica e Universitaria) in the same region.

The project is expected to contribute to the urban environment by helping to promote urban renewal and to provide affordable accommodation. Investments are expected to contribute to urban regeneration and, in the long-term, better social integration of different income groups. Moreover, due to construction typically being labour-intensive, the use of a local workforce, including unemployed, low-skilled workers and apprentices, the investments are expected to contribute to growth and employment during implementation of the investments (to be verified during the appraisal).

Environmental aspects
Procurement

Compliance with the relevant EU Directives will be verified during appraisal stage: EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU, 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 will also be further assessed.

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules. In addition to the social housing investment, as part of the special agreement with the related municipalities, the Promoter might also be responsible for provision of related public infrastructure such as connection streets and arrangement of common public spaces in the building clusters. In that case, the Promoter will follow relevant applicable EU procurement legislation. Then, the Bank will require that the Promoter ensure that contracts for the implementation of the related components of the project will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/23/EU, 2014/24/EU and/or 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Comments

N/A

Link to source
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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).

Documents

Environmental and Social Data Sheet (ESDS) - REDO LOMBARDY SOCIAL HOUSING
Publication Date
29 Jan 2021
Document language
Main Topic
Lending
Document Number
134253288
Document Focus
Environmental Information
Project Number
20200679
Sector(s)
Regions
Countries
Publicly available
Download now

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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.
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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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