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    Reference: 20200195
    Release date: 15 December 2020

    Promoter – Financial Intermediary

    ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG

    Location

    Description

    Operation to finance social and affordable housing units in Austria. Final beneficiaries of the EIB financing will be limited-profit housing development companies, commercial property companies and local authorities.

    Objectives

    The project aims to meet the high-demand for affordable housing in Austria, with a focus on urban areas. It will address the existing need stemming from low- and middle-income households.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 300 million

    Environmental aspects

    Compliance with the relevant EU Directives has been verified as part of the appraisal process: 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 have also been assessed.

    Procurement

    The Promoter is a private company not operating in the utilities sector and not having the 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 - 23/07/2020

    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