EIB commits €490 million for energy-efficient homes in Catalonia with ICF
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The European Investment Bank (EIB) and Institut Català de Finances (ICF) announced that they have signed a €163 million loan to facilitate the construction of affordable rental housing with high energy efficiency standards in Catalonia, Spain.
The €163 million loan is the first tranche of the €490 million loan backed by the European Union’s InvestEU programme.
The investment is expected to fund the establishment of over 4,300 “social rental housing units,” with benefits targeted to reach more than 10,000 people. The project will contribute to social inclusion and urban regeneration while achieving certain energy goals.
Also read: EIB and Poste Italiane sign €450 million deal for digitalization and sustainability
The houses, expected to be finished by mid-2028, will address issues related to the shortage of affordable rental housing, reduce energy consumption and related costs, and cut greenhouse gas (GHG) emissions.
ICF CEO Vanessa Servera i Planas said, “As a public sector promotional bank, ICF’s strategic focus is on promoting social and affordable rental housing, together with the green transition, reindustrialisation and support for the primary sector.”
She added, “This EIB loan – and the important support of the Catalan Housing Agency in the form of subsidies for the financial cost of the operations – will enable us to finance more sustainable rental housing projects to guarantee the right to housing in Catalonia.”
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