NORTHERN IRELAND SOCIAL HOUSING (APEX)

The framework loan is to finance APEX, a leading Northern Irish social housing association which currently manages a rented social housing stock of around 4,600 units in total, for the new construction of energy-efficient social housing and the retrofitting of existing units in 2015 - 2020. The investments to be undertaken will be located in Northern Ireland. Northern Ireland is a transition region under EU eligibility in the current grant programming period and it is also an EIB cohesion priority region. As a post-conflict area it has been supported by EU structural funds since 1995 under the successive PEACE programmes (ongoing).

The project concerns the financing of investments in the housing stock of Apex, a not-for-profit registered provider of social housing in Northern Ireland. EIB funding of up to GBP 130 million will be used to finance small to medium-sized retrofitting and new construction of social housing in Northern Ireland. The housing investments will satisfy EIB's eligibility criteria for urban renewal, sustainable cities and communities and energy efficiency. The project will contribute to alleviating the current shortages in social housing supply in Northern Ireland by accelerating new construction and delivery of around 2,500 housing units.

Compliance with the relevant EU directives will be verified during appraisal (Environmental Impact Assessment (EIA) Directive 2011/92/EU, Strategic Environmental Assessment (SEA) Directive 2001/42/EC, Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC). The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the 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/or 2004/17/EC and Dir. 2007/66/EC (amending Directives 1989/665/EEC and 1992/13/EEC)), with publication of tender notices in the EU Official Journal, as and where required.

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