LOADING

Type to search

EIB provides a €2 million technical assistance grant to support affordable housing in Tirana

Global News Real Estate Sustainable Finance

EIB provides a €2 million technical assistance grant to support affordable housing in Tirana

Avatar photo
  • The EIB Global is supporting an affordable housing development that will help accommodate 6 500 people in Tirana.
  • This is the first EIB affordable housing project in the Western Balkans and the third project with the city of Tirana.
  • As the EU climate bank, the EIB aims to help the country increase resilience to climate change, in line with European energy efficiency standards.

The European Investment Bank (EIB), the EU bank, will provide a €2 million technical assistance grant for the preparation of an affordable housing project in Tirana. The grant will strengthen the municipality’s capacities and develop the necessary documentation in line with EU standards and EIB climate and environmental targets. The Bank will support the municipality in its effort to provide improved and energy efficient accommodation for the most vulnerable residents of Tirana. The project concerns the construction of new buildings and ancillary infrastructure over an area of 86 600 m2 to host nearly 6 500 people and about 1 600 low and middle-income households.

The EIB Global grant will make it possible to provide technical assistance for the preparation of an affordable social housing project, incorporating far-reaching positive social, environmental, climate and economic impact for residents of Albania’s capital. The grant comes under the EIB’s Economic Resilience Initiative, aiming to mobilise finance to support growth, job creation, vital infrastructure projects and social cohesion in the Western Balkans.

EIB Vice-President Lilyana Pavlova, responsible for the Western Balkans, said: “The European Investment Bank is glad to further support Tirana’s municipality in addressing city’s urban development needs in a socially inclusive and energy efficient way. The grant signed today under our new branch EIB Global is a further proof of our dedication to contribute to sustainable growth of Albania, alignment with EU standards and adaptation to climate change”.  

See related article: Iberdrola Signs $550 Million Green Loan with EIB to Fund Wind & Solar Projects

Mayor of Tirana Erion Veliaj said: “We have signed a EUR 2 million grant, which will help us assess the municipality’s needs for social housing, the resources we will have to dedicate and execution plan for the upcoming years, as steps we need to undertake to ensure Tirana’s growth. After two years of talks and negotiations, I thank you sincerely for choosing Tirana.”

Ambassador Christiane Hohmann, Head of EU Delegation to Albania, said: “The EU, via its bank, the European Investment Bank (EIB) will be improving social housing in Tirana by investing in energy-efficient accommodation for the most vulnerable. This is another step forward, ensuring that Tirana’s urban development adopts to climate change and generates sustainable growth as the capital moves closer to EU standards in terms of social inclusion and energy efficiency.”

The Bank is already working with the Municipality of Tirana on the modernisation of its water distribution network and the urban redevelopment of Lana riverfront, including the reorganisation of streets and associated infrastructure on both banks of the river. The city is also benefiting from technical assistance under the City Climate Finance Gap Fund that will help Tirana improve energy efficiency and resilience to climate change.

Source: European Investment Bank

Tags:
Avatar photo
ESG News

ESG News provides full-length coverage of ESG events, trends, policies and thought-leaders shaping business today.

  • 1

You Might also Like

Leave a Comment

Your email address will not be published. Required fields are marked *