EIB Financing Agreement for affordable homes

On 24 March the EIB signed a €250 million financing agreement with in'li, the Action Logement Group's subsidiary focused on affordable housing in Île-de-France (the Paris region). It will finance the construction of 2.580 affordable homes.

"... each home built will meet the strictest environmental criteria, in accordance with the EIB's commitment to finance projects with the highest climate action performance targets." (for new build, that means positive energy buildings, buildings that go beyond the near-zero energy levels that are already required under the Energy Performance of Buildings Directive and that therefore are not deemed to merit special financing).

in'li tenants are young professionals with middle incomes who have difficulty paying standard Parisian rents and to whom in'li offers rents 20% below market.

This is the latest example of the amount of money the EU is prepared to spend on projects combining housing affordability, strict environmental criteria and scale.