鈥淪ince the coronavirus pandemic reached Europe the EIB has been fully mobilised with the European Commission to deploy a support plan of up to 鈧�40 billion in aid for the hardest hit SMEs,鈥� said EIB vice-president Ambroise Fayolle. 鈥淣onetheless, the EIB's long-term financing of the economy aimed at kick-starting the eventual economic recovery continues in parallel, with a focus on climate action.鈥�
The loan provided to Action Logement Group subsidiary In鈥檒i is for the construction of 2,580 housing units in 脦le-de-France over four years. Construction is expected to generate 5 000 person-years of employment during the implementation phase.
聽鈥淚n this context, supporting the housing and construction market in 脦le-de-France via this loan to In鈥檒i addresses three priorities: improving the job situation, reducing the energy consumption of homes, and providing SMEs in the building sector, in particular, with enough business to facilitate their recovery.鈥�
In鈥檒i has set a goal of building nearly 80,000 new housing units over the next 10 years, including 37,200 in the first five years, for a total investment amount of 鈧�4.3bn. Construction will be concentrated in Paris and 76 neighbouring municipalities.
The EIB loan granted under the European Fund for Strategic Investments (EFSI) will further In鈥檒i鈥檚 ambitions by financing the initial tranche, in particular by providing In鈥檒i with the sources of finance it needs to support the launch of its programme.
Each home is to be built to strict environmental criteria, in accordance with the EIB鈥檚 commitment to finance projects only with the highest climate action performance targets.
European commissioner for economy Paolo Gentiloni said: 鈥淚n big cities, young workers and middle-income professionals have difficulty finding a place to live. Thanks to this 鈧�250 million loan supported by the Investment Plan for Europe, Action Logement鈥檚 subsidiary In鈥檒i will be able to build 2,580 affordable homes which will benefit nearly 6,000 people living in 脦le-de-France. This is an excellent initiative that will improve the daily lives of middle-income households in 脦le-de-France, facilitate professional mobility and contribute to urban renewal in compliance with the latest environmental standards.鈥�
Chairman of the executive board of In鈥檒i Benoist Apparu added: 鈥淒espite the global pandemic that is especially impacting us here in Europe, In'li is actively preparing for the end of the crisis to meet the ambitious target set by Action Logement. For two years now, we have been diversifying our sources of financing to this effect. We are delighted with this agreement with the EIB as it will enable us to develop new affordable homes for workers in 脦le-de-France as close as possible to their workplaces, which will maintain their purchasing power thanks to rents on average 20% lower than on the private market.鈥�
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