EIB and Barcelona Metropolitan Area sign agreement to improve energy efficiency and accessibility of 10,000 housing units

The Barcelona Metropolitan Area (AMB) will be supported by the European Investment Bank (EIB) in refurbishing the metropolitan building and housing stock to make it more energy efficient and more accessible.

For this purpose, the EU bank is providing a EUR 50 million loan to AMB enabling a EUR 100 million investment in the refurbishment of around 10,000 housing units located in deprived districts. It is estimated that between 25,000 and 30,000 people will benefit from this initiative

The agreement was signed in Barcelona by EIB Vice-President Emma Navarro and AMB’s Executive Vice-President, Antonio Balmón Arévalo.

This agreement will enable AMB, together with the metropolitan municipalities and the Metropolitan Housing Consortium (CMH), to generate credit lines tailored to the different socioeconomic realities that contribute effectively to the implementation of the refurbishment schemes.

AMB, the metropolitan municipalities and the CMH will drive, develop and manage the schemes in agreement with the different communities of homeowners.

The EIB is financing this project under the Smart Finance for Smart Buildings initiative, which it is promoting alongside the European Commission to provide the necessary financing to support investments in improving the energy efficiency of buildings. Once implemented, this project will enable energy savings of over 20,500 MWh a year. At the same time, it will have a positive impact on employment, helping to create more than 1,000 jobs in the implementation phase up to 2024.

Original source: EIB
Published on 15 February 2019