Release date: 15 June 2016
Promoter – Financial Intermediary
HOUSING AUTHORITY - REPUBLIC OF MALTA
The project concerns the financing of investments in social housing in the years 2016 - 2020 foreseen by the country's social housing programme that will be implemented by the national housing authority. EIB funding will concern retrofitting and new construction of social housing and associated infrastructure facilities. The housing investments will need to satisfy the EIB's eligibility criteria for urban renewal and sustainable cities and communities. The project will contribute to the alleviation of the current shortages in social housing supply in Malta.
The project is expected to contribute to (i) the reduction of the shortage in social housing supply in Malta; (ii) improving the quality of existing social housing stock; (iii) potentially reducing energy consumption of the existing building stock; (iv) promoting social inclusion of low-income households; (v) the implementation of the housing strategy developed by Maltese municipalities. Housing construction typically generates significant employment both directly through construction and indirectly through consumables purchased by residents. The project therefore has potential to contribute significantly to sustainable growth and employment.
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 50 million
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 EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal.
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 Official Journal of the EU, as and where required.
Signed - 30/06/2017
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).