Release date: 9 February 2017
Promoter – Financial Intermediary
EIB lending facility to finance urban renewal projects under the Financial Instrument for Urban Rehabilitation and Revitalisation (IFRRU).
The proposed operation responds to public policy objectives by financing urban revitalisation and regeneration projects. It will also contribute to climate action objectives, as energy efficiency projects will be considered eligible projects.
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 1000 million
The project is expected to entail positive environmental and social externalities in particular with regard to improvements in energy efficiency of the building stock, in the quality of life for local residents, in the attractiveness and competitiveness of cities and in social cohesion through the regeneration of disadvantaged urban areas. The improvement of energy efficiency by retrofitting existing buildings will reduce energy consumption and lower CO2 emissions, contributing to security of supply and mitigation objectives. The project also contributes to environmental protection (tackling climate change).
Contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, including publication of tender notices in the Official Journal of the EU.
Signed - 9/08/2017
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).