Release date: 23 January 2017
Promoter – Financial Intermediary
NATIONAL TREASURY MANAGEMENT AGENCY
The framework loan is to provide financing for three different social housing bundles. The loans will provide financing to private sector partners to construct, finance, operate and maintain the bundles. Repayments are to be made using funds from availability payments from a public sector body based on a 25-year project agreement.
By increasing the supply of social and affordable housing, the project will help reduce the degree to which income is a factor in securing suitable housing, thus delivering greater social inclusion. Given the robust regulatory and urban planning framework in Ireland, the project is expected to be informed by a planning-led approach to urban development. The proposed operation will help meet housing need in locations experiencing significant shortages, integrating social housing with open market housing. High regulatory standards should ensure the application of adequate standards regarding energy efficiency, sustainability and the active involvement of tenants. Furthermore, the housing investments to be funded will generate significant employment during their implementation.
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 160 million
Total cost (Approximate amount)
EUR 350 million
Compliance with 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 proposed investments should lead to the physical rejuvenation of their locations and therefore result in a better living environment.
The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/23/EU and 2014/24/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/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 - 19/03/2019
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).