AFFORDABLE HOUSING GREEN BOND

Promoter – Financial Intermediary

IN'LI

Location

• France

Description

The operation concerns the purchase of green bonds issued by IN'LI under its Green Financing Framework.

Objectives

The aim is to finance green investments in affordable housing. The operation is aligned with the EU Framework for Urban Development and Regeneration, the EIB's Urban Lending Review (CA/496/16) in line with the EU Urban Agenda, the new Leipzig Charter for Sustainable Urban Development, the EU2020 Strategy for Smart, Sustainable and Inclusive Growth as well as the Energy Performance of Buildings Directive. As such, the project is eligible under Article 309 (c) common interest.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 208 million

Environmental aspects

The compliance with the relevant EU Directives was verified during appraisal: Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, EU Strategic environmental assessment (SEA) Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. In addition, EU Directive 2010/31/EU on Energy Performance of Buildings as well as the French standard RE2020 for nearly zero energy buildings.

Procurement

The promoter achieves 80% of its development by purchasing new housing from developers, via VEFA (Sale in Future State of Completion) contracts. These contracts do not fall under the public procurement rules. On the remaining 20%, the promoter is the project manager and launches public call for tenders, in accordance with the public procurement code to find companies that carry out the project design and implementation.

Status

Signed - 14/12/2023