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    Reference: 20140651
    Release date: 24 September 2015

    Promoter – Financial Intermediary

    APEX HOUSING ASSOCIATION

    Location

    Description

    The framework loan is to finance APEX, a leading Northern Irish social housing association which currently manages a rented social housing stock of around 4,600 units in total, for the new construction of energy-efficient social housing and the retrofitting of existing units in 2015 - 2020. The investments to be undertaken will be located in Northern Ireland. Northern Ireland is a transition region under EU eligibility in the current grant programming period and it is also an EIB cohesion priority region. As a post-conflict area it has been supported by EU structural funds since 1995 under the successive PEACE programmes (ongoing).

    Objectives

    The project concerns the financing of investments in the housing stock of Apex, a not-for-profit registered provider of social housing in Northern Ireland. EIB funding of up to GBP 130 million will be used to finance small to medium-sized retrofitting and new construction of social housing in Northern Ireland. The housing investments will satisfy EIB's eligibility criteria for urban renewal, sustainable cities and communities and energy efficiency. The project will contribute to alleviating the current shortages in social housing supply in Northern Ireland by accelerating new construction and delivery of around 2,500 housing units.

    Comments

    None

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 178 million (GBP 130 million)

    Total cost (Approximate amount)

    EUR 356 million (GBP 260 million)

    Environmental aspects

    Compliance with the relevant EU directives will be verified during appraisal (Environmental Impact Assessment (EIA) Directive 2011/92/EU, Strategic Environmental Assessment (SEA) Directive 2001/42/EC, Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC). The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the Directive on the Energy Performance of Buildings (2010/31/EU) will also be further assessed during project appraisal.

    Procurement

    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 (Directive 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.

    Status

    Signed - 1/06/2017

    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).

    Related tags

    United Kingdom Urban development