11 February 2021
Promoter – Financial Intermediary
ISTITUTO PER L'EDILIZIA SOCIALE DELLA PROVINCIA AUTONOMA DI BOLZANO
Construction and refurbishment of energy efficient social and affordable housing units throughout the Province of Bozen.
Additionality and Impact
The project will provide good quality social and affordable housing for those most in need and those who cannot afford market rates by building new housing units or upgrading and renovating existing units that require refurbishment.The project will contribute directly or indirectly to promote progress towards multiple Sustainable Development Goals (SDGs), including poverty reduction (SDG 1), reduced inequalities (SDG 10), Sustainable Cities and Communities (SGD 11) and Climate Action (SDG 13)The Project addresses a number of market failures, in particular the lack of available social housing supply as the market does not sufficiently cater for the demand of low-income people. In addition, the Project addresses sub-optimal investment flows into highly energy efficient and resilient new buildings. Lastly, despite severe budgetary restrictions brought about by the Covid-19 pandemic, the Bank´s financial contribution will enable the implementation of the Borrower´s much needed investment plan in a timely manner, mitigating the risk of the project suffering delays or having to be downsized or reconfigured.
The project concerns the construction of some some 281 new housing units and refurbishment of some 6052 housing units for rent, with special emphasis on energy efficiency measures. The project is located in the City of Bozen and its province in Northern Italy.
Proposed EIB finance (Approximate amount)
EUR 126 million
Total cost (Approximate amount)
EUR 182 million
Compliance with the relevant EU Directives will be verified during appraisal stage: EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU, SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed.
The Bank will require the promoters to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation 2014/24/EU and 2014/25/EU where applicable, as well as Directive 92/13/EEC or 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.
Signed - 6/12/2021