SOCIAL & AFFORDABLE HOUSING INVESTMENT PLATFORM

Promoter – Financial Intermediary

INSTITUTO DE CREDITO OFICIAL

Location

• Spain

Description

The project consists of an investment platform aimed at financing social and affordable housing projects in Spain.

Objectives

The operation consists of an investment platform developed in cooperation with the Instituto de Crédito Oficial (ICO), the Spanish National Promotional Bank, to support promoters (both public and private companies) operating in the social and affordable housing sector. Investments under this operation will mainly include new constructions and rehabilitations, energy efficiency improvements and accessibility measures in social and affordable housing.

Sector(s)

• Urban development - Construction
• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 153 million

Total cost (Approximate amount)

EUR 600 million

Environmental aspects

Compliance with the relevant EU Directives (the EU Environmental Impact Assessment (EIA) Directive 2011/92/EU, the EU Strategic Environmental Assessment (SEA) Directive 2001/42/EC, the EU Habitats Directive 92/43/EEC and the EU Birds Directive 2009/147/EC) will be verified during the appraisal. The status of any environmental studies and public consultations related to the housing investments as well as the alignment of energy efficiency requirements with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project the appraisal.

Procurement

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 2014/23/EU / 2014/24/EU, where applicable, Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.

Status

Approved - 12/06/2018