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    Reference: 20190404
    Release date: 5 June 2020

    Promoter – Financial Intermediary

    GBG - MANNHEIMER WOHNUNGSBAUGESELLSCHAFT MBH

    Location

    Description

    The project will finance the municipal social and affordable rental housing programme. The investments will include the construction of new housing units and the upgrade of existing ones, as well as associated infrastructure (kindergartens).

    Objectives

    The operation is expected to finance a comprehensive investment programme aiming at alleviating the shortages in municipal social and affordable housing supply. The investments will address existing need from low and modest income groups, thus contributing to social inclusion of deprived households. The new housing units as well as the retrofitting interventions will be in line with contemporary living standards, in particular concerning energy efficiency, safety/security and accessibility. The investments will need to satisfy the EIB's eligibility criteria for urban renewal and sustainable communities. The housing investments concerned are envisaged to form part of specific local integrated urban development plans.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 344 million

    Environmental aspects

    National environmental legislation has been harmonised in line with the relevant EU Directives, in particular the environmental impact assessment (EIA) 2011/92/EU Directive and Strategic Environmental Assessment (SEA) 2001/42/EC. The EIB's appraisal will focus on the Promoter's environmental management capacity to properly apply the EU SEA Directive 2001/42/EC, the EU EIA Directive 2011/92/EU, as well as the requirements of the EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC, where appropriate. The status of any environmental studies and public consultations related to the housing investments will be reviewed during project appraisal. Applicable energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings (recast) 2010/31/EU will also be further assessed during project appraisal.

    Procurement

    The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

    Status

    Signed - 27/11/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Germany Urban development