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    Reference: 20170769
    Release date: 2 May 2018

    Promoter – Financial Intermediary

    INSTITUTO DE CREDITO OFICIAL

    Location

    Description

    The project consists of an investment platform aimed at financing social and affordable housing projects in Spain.

    Objectives

    The operation consists of an investment platform developed in cooperation with the Instituto de Crédito Oficial (ICO), the Spanish National Promotional Bank, to support promoters (both public and private companies) operating in the social and affordable housing sector. Investments under this operation will mainly include new constructions and rehabilitations, energy efficiency improvements and accessibility measures in social and affordable housing.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 300 million

    Total cost (Approximate amount)

    EUR 600 million

    Environmental aspects

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

    Procurement

    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, Directive 2014/23/EU / 2014/24/EU, where applicable, Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.

    Status

    Approved - 12/06/2018

    Disclaimer

    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

    Spain Urban development Credit lines