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    Reference: 20180501
    Release date: 10 October 2018

    Promoter – Financial Intermediary

    ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG

    Location

    Description

    The "Framework Loan" will finance the construction of social housing (gemeinnütziger/geförderter Wohnraum) in Austria, in the period 2018-2023. Final beneficiaries under this operation - intermediated by Erste Bank - will be municipalities, not for profit and commercial companies/private entities.

    Objectives

    The objective is to meet the high-demand of an increasing number of people that cannot afford adequate housing, expecially in the cities. The operation will also improve living conditions of the local population and the attractiveness of urban spaces and related architecture.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    EUR 200 million

    Environmental aspects

    Compliance with the relevant EU Directives will be verified during appraisal: EU Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. Applicable energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during appraisal.

    Procurement

    The promoter is a private company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not covered by the EU Public Procurement Directives. However, the housing projects will be developed by final beneficiaries (non-profit housing development companies, commercial property companies, local authorities) some of which (i.e. local authorities) will fall under public procurement rules. The Bank will require the promoter to ensure that final beneficiaries falling under the EU Public Procurement Directives comply with the EU Public Procurement Directives.

    Status

    Signed - 29/03/2019

    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

    Austria Urban development