Release date: 18 May 2002
Promoter – Financial Intermediary
HSBC Bank plc and HSBC Equipment Finance (UK) Limited, parts of the HSBC Holdings plc group.Location
Description
A large number of UK households are suffering from “fuel poverty” whereby they are spending a disproportionate share of their income on heating or are unable to pay for adequate heating in the properties they occupy. In order to tackle this problem, the UK Government is supporting the establishment by the gas company Transco of the “Affordable Warmth Programme”, in co-operation with Local Authorities, Housing Associations and banks/leasing houses. The proposed global loan would focus on financing new efficient heating systems for social housing owned by local authorities or housing associations.
Objectives
The objective is to supply competitive finance to local authorities and housing associations taking part in the “Affordable Warmth Programme”.
Comments
Social housing
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 100m (EUR 160m)
Total cost (Approximate amount)
Min GBP 200m (EUR 320m)
Environmental aspects
Final beneficiaries will be requested to comply with national and EU Directives, as appropriate.
Procurement
Final beneficiaries will be requested to comply with EU Directives in particular for the award of public sector contracts, as appropriate.
Status
Signed - 18/12/2002