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    Reference: 20150599
    Release date: 26 November 2015

    Promoter – Financial Intermediary




    The loan will finance social housing projects (including homes for refugees) in the German federal state of Lower Saxony.


    The operation concerns the financing of Lower Saxony's social housing programmes, comprising the construction of new units and the comprehensive retrofitting of designated units (e.g. energy efficiency measures, improved accessibility for disabled persons) in the years 2015-2019. Most of the units will be used to provide temporary accommodation to refugees/asylum seekers recently arrived in the region before being reverted into social housing for the wider population. The individual social housing investments will form part of specific local integrated urban development plans or designated urban renewal areas, which satisfies the EIB's eligibility criteria for urban renewal and sustainable communities.


    Proposed EIB finance (Approximate amount)

    EUR 328 million

    Total cost (Approximate amount)

    EUR 513 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 housing investments will be reviewed during project appraisal. Applicable 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. With regard to the refugee-related component, in addition to compliance with Directive 2003/9/EC, the due diligence process will look at other issues in the Directive 2013/33/EU on reception conditions for applicants for international protection, in particular the treatment of vulnerable groups A list of topics that will need to be covered in order to comply with Directive 2013/33/EU is being developed by the EIB and will be agreed with the Commission (DG Migration and Home Affairs).


    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.


    Signed - 13/10/2016


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Germany Urban development