Flemish Housing Corporation

Promoter – Financial Intermediary

The Flemish Housing Corporation, a public entity under the supervision of the regional Minister of Housing and the regional Finance Minister.

Location

• Belgium

Description

Provision of new or replacement of social housing, refurbishing of older social dwellings and conversion of appropriate and otherwise redundant buildings to housing use, supported by associated investment in urban infrastructure and other environmental improvements, in selected urban localities.

Objectives

The project is expected to contribute to the sustainability of affordable social housing in the region of Flanders.

Sector(s)

• Urban development

Proposed EIB finance (Approximate amount)

Up to a maximum of EUR 200m.

Total cost (Approximate amount)

EUR 470m.

Environmental aspects

With reference to the EIA Directive 85/337 as amended by 97/11, it is unlikely that an EIA is required for any of the sub-projects due to their nature and location. Whilst there may be some minor environmental impact during construction/renovation work, the net environmental and social impact will be wholly positive. For example, alongside significant improvements in both the quality of shelter and the residential environment generally, improved dwellings will have better thermal insulation, which will substantially reduce energy consumption. Neighbourhoods will also benefit from environmental improvements such as traffic calming, improved street furniture and landscaping as part of urban renewal works.

Procurement

Procurement is of two kinds, those under Services Directive 92/50/EEC and Public Works Directive 93/37/EEC for actual project works. For the selected sub-projects, the responsible social housing companies will appoint project managers, who will undertake appropriate public works procurement in each case. The procedures followed are acceptable to the Bank.

Status

Signed - 23/12/2003