"The European Investment Bank has provided over €3.5 billion in funding for sustainable housing projects across Europe in the past five years"
Signature(s)
Amount
€ 72,078,565.6
Pays
Sector(s)
Suède
: € 72,078,565.6
Aménagement urbain
: € 72,078,565.6
Signature date(s)
21/12/2023 : € 72,078,565.6
Link to source
Data sheet
Other links
Summary sheet
Release date
14 September 2023
Status
Reference
Signé | 21/12/2023
20230066
Project name
Promoter - financial intermediary
SKELLETEAE AFFORDABLE HOUSING
SKELLEFTEAA KOMMUN
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
SEK 800 million (EUR 71 million)
SEK 1604 million (EUR 142 million)
Location
Sector(s)
- Aménagement urbain - Construction
Description
Objectives
This project concerns an investment loan to support investments in social and affordable housing for rent in the Municipality of Skelleteae, which is situated in the Västerbotten County of northern Sweden. The housing programme includes 743 affordable housing units, including a specific housing programme for students.
The aim of the operation is to contribute to urban development and regeneration, and address strong demand for housing in the Municipality of Skellefteå, where the waiting list reaches 46,000 applicants. Upper Norrland, County of Västerbotten and Skellefteå in particular is at the core of a green transition of a necessary transformation of the current metal industries to new green production methods. The project aims to provide safe, comfortable, and affordable housing options to address the strong demand for housing in the region. The affordable housing programme includes the construction of new units for rent, while the student housing programme provides affordable and convenient options located near campus area and other amenities.
Additionality and Impact
The Project comprises the construction of new public housing units for rent, contributing to the promotion of integrated urban development and social integration objectives of the municipality of Skellefteå. The investment components will be part of well-defined integrated local urban development plans and will facilitate the development of sustainable and inclusive communities, while contributing to the promotion of social mix and addressing the high demand for housing in the region of Sweden which is undergoing reindustrialization of its economy.
The Project will contribute to a more balanced local residential market by supporting housing supply, thereby addressing the existing need for housing across the income spectrum with a focus on low and middle-income households, and also students. The EIB financing will tackle the market gap resulting from an insufficient affordable housing supply by offering a long maturity at attractive financing costs, needed to keep rent levels low.
The operation supports the EU's and Bank's priority in the energy efficiency sector and the EIB's climate action objectives, through the implementation of energy efficiency projects in residential housing. The financing of this project is in line with the Bank's lending priority objectives on Energy Efficiency and the transversal objectives on Climate Action (mitigation and adaptation).
The implementation of the energy efficiency projects financed under this operation will contribute to the achievement of Sweden's National Energy Climate Plan. In turn, it supports the EU and national targets for energy efficiency. The operation is fully aligned with the EU Energy Performance of Building Directive (EPBD) and Energy Efficiency Directive (EED).
The project quality is very good due to its focus on sustainability and addressing climate vulnerabilities. It is targeting vulnerable social groups in an efficient way and the governance structure is robust.
Skellefteå values the Bank's investment loan product with long maturities and long draw-down periods that match the financing needs of the City's housing portfolio. The EIB loan provides for a diversification of external funding sources at competitive terms and conditions especially as the loan can be linked with grant financing under the Public Sector Loan Facility (Just Transition Mechanism) initiative.
Environmental aspects
Procurement
The Bank will require that the investment comply with EU environmental legislation as well as comply with the principles and standards of the Bank's Environmental Policy Statement.
The promoter is subject to the public procurement regime. 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, Directive 2014/25/EU, as well as Directive 92/13/EEC and 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 (OJEU), as and where required.
Milestone
Under appraisal
Approved
Signed
7 December 2023
21 December 2023
Related documents
Link to source
Summary sheet
Other links
Documents
Fiche technique sur les aspects sociaux et environnementaux - SKELLETEAE AFFORDABLE HOUSING
Publication Date
9 Dec 2023
Document language
Main Topic
Prêts
Document Number
169726078
Document Focus
Information Environnementale
Project Number
20230066
Sector(s)
Regions
Countries
Disponible au public
Download now
Link to source
Other links
News & Stories
Link to source
Other links
Inside the project
How and Why
Building affordable homes
Why
- Provide affordable homes in areas where private investors may not be interested in building.
- Reduce the environmental impact by building energy-efficient homes.
- Attract more residents, including students and workers, supporting the city’s economy.
How
- Priority given to those with the greatest need, such as low-income people, refugees, and students.
- Solar panels, heat recovery systems, and wastewater recycling reduce energy use and environmental impact.
- The new homes are built to Swedish construction standards, ensuring safety, quality, and sustainability.
Sectors & Countries
PLAY VIDEO
2:41
Story
Bright and spacious
Skellefteå, a city in northern Sweden, is growing quickly: its current population of 76 542 is expected to rise by 16 000 by 2030. To meet this growing need of housing, Skellefteå’s public housing company, Skellefteåbostäder (Skebo), is building 743 new homes with a loan from the European Investment Bank.
Olga Patrashku, a 20-year-old refugee from Ukraine, was one of the first to benefit from the new homes. After fleeing the war in Ukraine, Olga moved to Skellefteå, where she found work as an assistant nurse. Thanks to the housing points system, she qualified for a bright and spacious two-bedroom flat, complete with brand-new kitchen, washing machine, and a stunning view of the peaceful Sjungande Dalen, or Singing Valley.
"The support from the European Investment Bank has made it possible for us to speed up the construction of homes in areas where private investors wouldn’t typically build."
Focus on students
More than half of the new homes are being built for students to meet the growing demand for accommodation as Skellefteå’s university expands. The homes meet Swedish building standards for sustainability, with features like solar panels and heat recovery systems that help save energy and reduce costs.
For residents like Olga, these homes offer more than just a place to live. They give them the opportunity to build a new life in a community that supports their future.
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