STOCKHOLM ENERGY EFFICIENT HOUSING

Promoter – Financial Intermediary

CITY OF STOCKHOLM

Location

• Sweden

Description

The project concerns the financing of the City of Stockholm housing programme. The investment loan will include the new construction of around 1,500 municipal housing units for rent to be built by the three housing companies owned by the municipality. The construction of new housing units are expected to be complementary to the local regeneration and renovation activities in the built urban environment and to be integrated into urban development plans.

Objectives

The aim of the operation is to address strong demand for housing in the Stockholm agglomeration, where the waiting period reaches ten years. Increasing cost of land and house purchase and residential rental prices in the region, together with continuous immigration is putting pressure on the availability of housing.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

SEK 2500 million (EUR 229 million)

Total cost (Approximate amount)

SEK 5700 million (EUR 523 million)

Environmental aspects

Compliance with the relevant EU Directives will be verified during appraisal stage: EIA Directive 2011/92/EU amended by the EIA Directive 2014/52/EU, SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the 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. It is envisaged that the project will contribute to urban regeneration and sustainable urban development in local neighbourhoods, generating significant positive social and economic benefits, including better health and living conditions for lower income groups, job creation during implementation and the promotion of social mix. All these elements will be evaluated during the appraisal of the project.

Procurement

The promoter is subject to the public procurement regime. The Bank will require the promoter to ensure that contracts for implementation of the project have been and will be tendered in accordance with the applicable EU procurement legislation, for contracts above the threshold: Directive 2014/24/EU as well as 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 23/12/2022