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    Reference: 20200516
    Release date: 4 September 2020

    Promoter – Financial Intermediary

    IN'LI

    Location

    Description

    Financing of a programme of construction of 2000 affordable housing units in the region Ile-de-France in France by the private entity FONCIERE CRONOS founded by IN'LI.

    Objectives

    The operation will support the construction of 2000 affordable housing units in Ile-de-France (Paris region), particularly in areas where middle-class employees and young workers are finding it increasingly difficult to find housing, and have to undergo an average commuting time of 84 minutes/day.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 205 million

    Total cost (Approximate amount)

    EUR 513 million

    Environmental aspects

    The EIB financing will support construction of housing units which will 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 sub-project 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 sub-project 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.

    Procurement

    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 publication of tender notices in the Official Journal of the EU, as and where required.

    Status

    Approved - 16/12/2020

    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

    France Urban development