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Friday | January 22 | 2021

European Investment Bank, loan for affordable housing in Szczecin

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.

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).

For the first time in social and affordable housing projects financed by the EIB, a specific focus on green infrastructure has been included in the operation.

Thus, a separate PLN 3.4 million loan (approx. €0.8 million) was signed with Szczecińskie Towarzystwo Budownictwa Społecznego (STBS) to finance the integration of green roofs, urban farming plots, rainwater collection systems and other green elements.

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.

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