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    Reference: 20140148
    Release date: 1 April 2014

    Promoter – Financial Intermediary

    London Borough of Barking and Dagenham



    Development of social and affordable housing to be operated by the London Borough of Barking & Dagenham.


    Under the Framework Loan operation "London Green Fund Co-financing Loan", it is proposed to allocate funding to a large sub-project above the EUR 50m equivalent threshold: The Gascoigne housing estate redevelopment and regeneration is located in the London Borough of Barking and Dagenham, situated in East London. The scheme will concern the demolition and redevelopment of the housing estate area dating from the 1960s, located within the Borough's central area, Barking town centre.



    Proposed EIB finance (Approximate amount)

    GBP 40 million (EUR 49 million)

    Total cost (Approximate amount)

    GBP 80 million (EUR 98 million)

    Environmental aspects

    Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU, 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 urban renewal, rehabilitation and reconstruction 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 during project appraisal.


    The Bank will require the borrower to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EC and/or 2004/17/EC and Dir. 2007/66/EC [amending Directives 1989/665/EEC and 1992/13/EEC]), with publication of tender notices in the EU Official Journal, as and where required.


    Approved - 4/06/2014


    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).

    Related tags

    United Kingdom Urban development