IHRU III - RENTAL HOUSING REHABILITATION

Investment programme dedicated to rehabilitation of residential buildings and urban renewal.

This will be a third operation with the Promoter, Instituto da Habitação e Reabilitação Urbana (“IHRU”). IHRU is a public institute responsible for social housing and urban regeneration. The Bank´s operation will support an investment programme of IHRU comprising refurbishment of buildings primarily dedicated to rental housing. Regeneration of the building stock will also aim at renewal of selected urban areas. Schemes under this operation will be located in urban areas of Portuguese major cities.

Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 79/409/EEC. The status of any environmental studies and public consultations related to the urban renewal, rehabilitation and (re-)construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal.

The Bank will require the Borrower to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/18/EC and Directive 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where required.