Luxembourg, 11/06/2003 (Agence Europe) - The European Investment Bank (EIB) has just granted a EUR loan to the Catala Financial Institute (CFI) of EUR 50 million to fund construction and renovation of rented social accommodation in Calalonia. This loan will constitute the first tranche of a total EUR 100 million credit line. The project is part of the Pla Catala Habitation (PCH) framework, which was set up by the Generalitat de Catalonia for the period 2002-2007. The loan will fund part of the PCH dedicated to the rented social housing sector, particularly for the renovation of old buildings and investment in urban renewal zones. These pojects also intend to enlarge the amount of rented accommodation over the 2002-2007 period with the construction of at least 4000 new flats. The project will provide social housing in zones that come under the Objective 2 programme of EU aid and will therefore contribute to the reduction of social exclusion and urban environmental develoment in the region.