Release date: 21 September 2023
Promoter – Financial Intermediary
ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AGLocation
Description
The project consists in a Framework Loan (FL) to finance small and medium-sized projects for new built green housing and green refurbishment of existing buildings.
Objectives
The aim is to enhance access to finance for residential real estate development companies implementing long-term green real estate projects.
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 335 million
Environmental aspects
The project targets the energy refurbishment of buildings and the construction of new highly energy efficient buildings, in line with the EU Energy Performance in Buildings Directive (EPBD) 2018/844/EU (amending 2010/31/EU). It will therefore reduce the energy consumption of buildings and the associated pollutant emissions. The sub-projects are not expected to fall under the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU), provided that the buildings will be integrated in urban areas. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives and in particular to climate mitigation.
Procurement
The final beneficiaries of the investments (residential real estate developers) have been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, in some cases, final beneficiaries might be subject to EU public procurement legislation. In this case, the Bank will require the promoter to ensure that contracts for implementation of the project have been/will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 21/12/2023