- Framework investment of €126 million for construction of 280 new affordable and energy-efficient housing units and enhancement of the energy efficiency of 6 450 existing units, benefiting 6 730 people.
- EIB’s first operation in Italy directly in favour of a social housing management body
The European Investment Bank (EIB) is supporting the Autonomous Province of Bolzano (Province) and its citizens through a framework investment of €126 million. The EIB will finance the Institute for Social Housing (IPES), the body that manages the Province’s subsidised housing, to develop a series of initiatives aimed at alleviating the growing demand for affordable housing for the most vulnerable social groups, including the construction and restructuring of housing units to benefit more than 6 730 people. In addition, the operation will contribute to further improving employment levels in the Province by supporting around 1 600 jobs during the implementation phase.
The project provides for the construction of 280 new social housing units and the energy efficiency upgrade of 6 450 units over the period 2021-2025, improving housing services in terms of thermal insulation, lighting and heating, using renewable energy solutions such as photovoltaics and biogas. The completion of the investment will generate energy savings of 53% compared to the consumption of existing residential buildings. The installation of charging stations for electric vehicles is also envisaged, facilitating the transition to sustainable mobility, an integral part of the European Green Deal.
Between 2000 and 2019, demand for subsidised housing in the Province increased by 42%, a situation further aggravated by the pandemic. On that basis, the EIB intends to support the economic recovery of the Autonomous Province of Bolzano, which is strongly committed to strengthening facilities and services affected by COVID-19.
The support of the EU bank will contribute to the regeneration of provincial urban areas, supporting the less well-off sectors of the population, including the elderly, students, people with disabilities, low-income families and people hit economically by the pandemic.
The project will contribute to the achievement of multiple sustainability and development objectives, starting with climate action, through the construction and renovation of sustainable and climate-resilient buildings. Reducing poverty is also a key objective that can be achieved by providing housing adapted to the needs of the less well-off and facilitating their integration into the social fabric of the city.
This is the first EIB operation in Italy directly in favour of a public body that manages social housing, and is the result of a framework agreement signed between the Autonomous Province of Bolzano and the EIB in February 2020 aimed at contributing to economic development, backing initiatives to support the Province and increasing the value of real estate assets.
EIB Vice-President Gelsomina Vigliotti said: “The EIB’s collaboration with the Autonomous Province of Bolzano is an important investment aimed at improving the quality of life of more than 6 000 people through the construction and restructuring of highly energy-efficient housing for the most fragile social groups. In addition to pursuing the objectives of environmental sustainability, the project increases housing supply, fosters urban regeneration and supports the exit from the economic crisis caused by the pandemic.”
IPES President Francesca Tosolini said she was very satisfied: “This is a great achievement for IPES, the Province and the EIB, showing recognition for Euregio+'s support activities. The funding will be allocated in full to the revaluation of real estate assets, thus increasing the real asset value of the Institute itself. The renovation of buildings is, today more than ever, of fundamental importance, because decent standards and sustainability are essential for quality housing. Thanks to the collaboration and commitment of all players involved and the support of the Autonomous Province of Bolzano, we are proud and pleased to have achieved this important goal, which represents a turning point in the financing of social housing.”
The European Investment Bank (EIB) finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2020, the EIB Group provided €23 billion in financing for projects in Italy.