EIB grants EUR 19 mln loan for Szczecin urban revitalisation projects
The European Investment Bank (EIB) has granted two municipal social building associations a total of PLN 85 million (EUR 19.07 million) in loans for the revitalisation of the Downtown and Stare Dabie districts of the northern Polish city of Szczecin.
The aim of the investment is to revitalise a historic part of the city, ensuring social cohesion and promoting innovative energy-saving solutions in part of the city's housing stock, the press service of the European Commission's representation in Poland announced on Tuesday.
Szczecin is the second city in Poland to receive loans from the EIB to finance an urban development plan, two communal enterprises in the western city of Poznań having been the first, the EC stated. The EIB has committed to lending two social housing associations belonging to the city of Szczecin up to PLN 85 million for the building and renovation of 250 cheap apartments and associated underground parking.
Investment in more energy-efficient apartments in Szczecin will enable the saving of over 3,200 GJ a year, which translates into lower energy consumption, lower emissions and lower energy bills. , according to press information.
"This is the first EIB loan for residential companies from Szczecin and I'm glad that it will help in solving two problems with which the social housing sector is struggling: shrinkage of the housing stock and ever worse quality of aging buildings," EIB Vice-President Teresa Czerwinska was quoted in a press release as saying, adding that, "price availability and the social fabric of our cities are the basis of the EU bank's urban agenda."