Release date: 21 January 2013
Promoter – Financial Intermediary
Development Bank of Southern AfricaNational Housing Finance Corporation
Nedbank
Standard Bank
Location
Description
Framework loan to be made available to several financial intermediaries for the funding of affordable and social housing projects and associated urban infrastructure, including social amenities, throughout South Africa.
Objectives
The selected schemes of affordable and social housing to be funded will be part of local integrated and inclusive sustainable urban development plans and housing policies satisfying the EIB's eligibility criteria for the sector.
Comments
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 464 million
Environmental aspects
The operation will be required to meet the environmental and social requirements of the Bank based on EU policy.
Procurement
The Bank will require the intermediaries to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.
Status
Signed - 30/10/2013
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).