10 May 2019
Promoter – Financial Intermediary
The project consists of the financing of a construction programme of affordable housing in the French region of Ile-de-France.
The project aims to alleviate the shortage of rental housing at affordable rents around the city of Paris and thus to increase the supply of affordable housing available to the middle income households, who find it increasingly difficult to find appropriate housing in the vicinity of their workplace.
By contributing to bridge the significant gap between supply and offer of affordable housing in Ile-de-France, the project will support social inclusion.
Proposed EIB finance (Approximate amount)
EUR 310 million
Total cost (Approximate amount)
EUR 500 million
The EIB financing will support construction of housing units which will be conform to RT2012 (the French energy efficiency regulation for buildings), therefore this project will have a positive impact on the achievement of France's national energy efficiency targets.
The competent authority will have to determine whether each subproject is subject to a full Environmental Impact Assessment (EIA) procedure according to the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Further details on the screening decision, the environmental permitting status, the proximity and potential impact of each subproject to natural conservation areas, according to the Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively), and on other aspects of the environmental impact assessment will be clarified during the appraisal.
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 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.
Signed - 23/12/2019