Signature(s)
Summary sheet
- Urban development - Construction
The operation is a framework loan to Ceska Sporitelna a.s. ("CSAS", acting as borrower) and its fully owned subsidiary, Dostupne bydleni Ceske sporitelny a.s. ("DBCS", acting as promoter) to develop affordable housing projects in Prague, Czech Republic. The project envisages over 700 newly constructed housing units, to be operated on long-term affordable basis (below the market price) and rented out to key workers such as nurses, teachers and public sector workers and it is the first project of this type in the country.
The operation is aimed at supporting the construction of new affordable housing units in Czech Republic.
The Project is expected to provide new housing units for rent for low and moderate income households, including key workers from caring professions, responding to the current housing affordability crisis in Prague. The overall environmental and social impact of the Project is expected to be positive, with good energy efficiency standards and notable social externalities.
It will contribute to social inclusion and will improve the social mix. More widely, the Project is expected to contribute to inclusive urban development with improvements to the quality and attractiveness of the built environment including climate action measures. High energy efficiency standards will also lead to lower operating costs and energy bills for the income tenants.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.