The European Investment Bank (EIB) has signed a €100 million long-term loan with Vivawest, a German real estate company, to build 900 energy efficient homes in North Rhine-Westphalia, the European Commission said on May 22.
According to the Commission, the loan is backed by the European Fund for Strategic Investments (EFSI), the heart of “the Juncker Plan” -an ambitious infrastructure investment programme first announced by European Commission President Jean-Claude Juncker in November 2014. The overall investment expected to be triggered by the EIB loan amounts to more than €250 million.
“I am delighted that the European Fund for Strategic Investments continues to target investments in the low carbon economy across the EU,” European Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen said. “This new agreement with Vivawest will benefit many thousands of local residents in the form of energy-efficient homes while having a tangible positive effect on the environment,” he added.