Release date: 22 January 2024
Promoter – Financial Intermediary
INSTITUT CATALA DE FINANCESLocation
Description
The project will finance the promotion of 7.000 social and affordable housing with high-energy efficient standards to rent in the region of Catalunya.
Objectives
The aim is to reduce energy consumption, which in turn contributes to mitigate the effects of climate change, lower air pollution and increase security of supply. Additionally, the project will contribute to alleviate the unmet demand for social affordable housing in the region.
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 490 million
Total cost (Approximate amount)
EUR 654 million
Environmental aspects
The project, which will comply with the EU Directive (2018/844/EU) on the Energy Performance of Buildings, will bring positive environmental benefits by reducing greenhouse gas (GHG) and air pollution emissions. At the construction stage, its implementation may lead to an increased noise and vibration level as well as affect air quality. Adequate mitigation measures will be taken together with the enforcement of best practices. The promoter's environmental management capacity to properly apply the relevant EU Directives will be verified during appraisal - particularly with regard to EU Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by 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. Some of the projects may fall under Annex I or Annex II of the Directive EIA Directive 2011/92/EU amended by 2014/52/EU. In these cases the promoter has to act according to the provisions of the aforementioned Directive leaving it to the competent authority to decide in line with the Directive whether an EIA procedure is needed or not. The project will be appraised and monitored in line with the EIB's policies, including the Environmental and Social Sustainability Framework.
Procurement
The final beneficiaries, social housing providers, fall under public procurement. The promoter has to ensure that contracts for the implementation of the projects are tendered in accordance with the relevant applicable EU procurement legislation.
Status
Under appraisal - 18/12/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).