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Poland: Investment Plan for Europe - EIB supports affordable housing in the city of Szczecin

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Image by David Mark from Pixabay

Szczecin has become the second Polish town to receive a loan from the European Investment Bank (EIB) to finance a municipal development plan for social and affordable housing. The EIB has agreed to lend up to PLN 85 million (approx. €20 million) to two housing companies owned by the City of Szczecin for the construction and renovation of 250 social and affordable housing units (169 new and 81 renovated) and associated underground parking facilities.

Thanks to the development of more energy-efficient dwellings, the project will generate savings of over 3 200 GJ per year, which will lead to a substantial reduction in Szczecin’s energy consumption and to lower emissions and energy bills. It will also enable the removal of on-street parking in the city centre and forms part of the larger urban regeneration programme of the historic part of the city.

 

Before Szczecin, the EIB had signed two loans in this sector with two municipal companies in Poznań. Such loans financed the construction and renovation of over 2 300 social and affordable housing units in the capital of the Wielkopolska Region.

More specifically, the Szczecin loan includes two financing parts. Up to PLN 58.25 million (approx. €13.7 million) was signed with Szczecińskie Towarzystwo Budownictwa Społecznego (STBS) and up to PLN 26.25 million (approx. €6.1 million) was signed with Towarzystwo Budownictwa Społecznego Prawobrzeże (TBSP).

The operation benefits from the guarantee of the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe. The European Investment Advisory Hub (EIAH), the advisory pillar of the Investment Plan for Europe, provided technical assistance to the beneficiaries.  

 

 

Read the full article here.