- The project aims to improve access to housing conditions for military and civilian personnel
- This operation will contribute to the fight against global warming as it includes an important component dedicated to the thermal renovation of buildings
- It will benefit from an innovative financial package with a 35-year commitment from the EIB, the main banking partner of the operation.
The European Investment Bank announces the signing of a major €484m financing contract under the Cegelog project to renovate and construct housing for the staff of the Ministry of Armed Forces and their families. This EIB financing operation, which forms part of an overall €2.3bn investment programme under the Ministry’s “Housing Ambition Plan”, will significantly help improve access to affordable housing, both in quantitative and qualitative terms.
From a quantitative perspective, this financial support from the EIB will greatly increase the capacity of the existing housing stock from 8 000 to 15 000 and will firstly concern low-income civilian and military personnel. In addition to the renovation of 8 000 existing housing units and the integration of 4 000 other housing units currently managed by other service providers, which will also be renovated, the plan involves the construction of more than 3 000 units at 655 sites across France.
From a qualitative point of view, all these renovated or new housing units will be more modern and better adapted, achieving best standards in terms of technical quality and high environmental and energy performance. For example, all thermal strainers in this building stock will disappear within five years.
Entrusted by the Ministry of Armed Forces to the concessionary company Nové, owned in equal proportions by BTP Eiffage and the social housing manager Arcade-VyV, the Cegelog project has received a loan of €1.3bn. The EIB is the main lender alongside military and aeronautic provident funds and a pool of 10 commercial banks. The Cegelog project, a new and innovative financial package that is very ambitious in terms of renovation and construction commitments, aims to reduce regional inequalities and improve the environment and quality of life in neighbourhoods where these urban regeneration programmes will be implemented.
“We are delighted to fund a project that will genuinely improve access to housing and the quality of life of the personnel of the Ministry of Armed Forces”, said EIB Vice-President Ambroise Fayolle. “This project is fully in line with the EU’s key priorities by contributing to the development of affordable housing and reducing the European Union’s carbon footprint. This Cegelog project will achieve a dual social and environmental impact in keeping with the EIB’s investment criteria.”
Background information
About the European Investment Bank
As the EU climate bank, the EIB aims to encourage the emergence and deployment of technologies to meet ongoing challenges such as the energy transition to a new green growth model. In 2021, the EIB invested more than two-thirds of its €9.2bn budget in France on climate action-related projects, including €3.85bn towards the financing of energy and environmental-efficient public facilities.
