Release date: 22 June 2022
Promoter – Financial Intermediary
REPUBLIQUE FRANCAISELocation
Description
The project consists of the energy efficiency renovation of part of the French Ministry of Armed Forces' housing stock as well as the construction of new social and affordable dwellings under a 35-year concession framework.
Objectives
The aim of the investments of CEGELOG / "Plan Ambition Logement" to be financed by the Bank is to increase the supply of social and affordable housing for low- and medium-income households in France, particularly in areas where there is market tension, i.e., where demand exceeds supply and raise rents to levels unachievable for low- and middle-income families. Construction should take place by densification on existing land, thus contributing effectively to the fight against urban sprawl. The project further supports national and European targets for energy efficiency, and contributes to CO2 emission reduction, thus supporting climate change objectives of the EU and the Bank's priority lending objective concerning energy efficiency. More specifically, it supports the objectives of the European Performance of Buildings Directive (EPBD).
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 600 million
Total cost (Approximate amount)
EUR 1219 million
Environmental aspects
The overall environmental impact of the project is deemed positive. The project will be implemented in existing brownfield and under-used sites and will include energy efficient measures for the refurbishment that will lead to lower energy consumption. In line with the French legislation, the housing constructions will be required to have the relevant building permits in place before the construction. This means that environmental impact assessments (EIAs) and relevant assessments under the Habitats and Birds Directives, if required, will be completed before. However, this is not expected as the constructions will take place in existing urban areas and refurbishments will not need an EIA.
Procurement
The concession is awarded through a competitive tendering approach consistent with EIB's Guide to Procurement. The project will be implemented in the form of a concession through a concession contract covering the renovation, construction, rental management, operation and maintenance of the project.
Status
Signed - 14/02/2022
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).