More ways to support sustainable urban projects
The European Commission presents a new financial instrument
Brussels, 30 August 2016 | Published in Urban
In June 2016 the European Commission launched a new financial instrument focusing on urban development that offers additional tools that could be useful to Housing Europe members, too.
The instrument called ‘Urban development funds’ will support sustainable urban projects, in the areas of public transport, energy efficiency or the regeneration of urban areas. The instrument is a support that derives from the European Structural and Investment Funds.
There are certain eligibility requirements that need to be fulfilled. Projects must:
- Be financially viable
- Be part of an Integrated Sustainable Urban Development strategy, set by Regional authorities
- Total project budget: max €20 million (combining public and private resources
- The support will take the form of a loan managed by a financial intermediary, with ESI Funds resources and a contribution of at least 30% from private capital.
As the Sustainable Urban Development strategy is set by the Regional authorities you would need to approach them in case they want to benefit.
Useful Contact for Housing Europe members: Stefan Appel, Head of Unit B4-Financial instruments of the Directorate General for Regional Development (REGIO)