4 September 2020
Promoter – Financial Intermediary
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.
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.
Proposed EIB finance (Approximate amount)
EUR 205 million
Total cost (Approximate amount)
EUR 513 million
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.
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.
Approved - 16/12/2020