Brussels, 15/06/2011 (Agence Europe) - On Tuesday 14 June, the European Investment Bank agreed to provide €125 million to finance social housing in Catalonia.
This loan is designed to support the implementation of the Generalitat de Catalunya's housing plan aimed at facilitating the construction of 12,000 homes with the right to buy. The plan is divided into various phases.
The EIB loan will finance the first phase, which consists of the construction of 3,250 social housing units in Catalonia. These are scheduled for completion by the end of 2013 and will include energy efficiency improvements leading to reductions in energy consumption, greenhouse gas emissions and tenants' electricity bills. This financing operation will take the form of EIB loans to the ICF, La Caixa and the BBVA of €65 million, €40m and €20m respectively. These financial institutions will in turn provide loans on advantageous terms to promote social housing. (O.L./transl.fl)