Press release European Commission
Daily News 14 / 02 / 2020
The European Investment Bank (EIB) and Spanish national promotional bank Instituto de Crédito Oficial (ICO) are providing €40 million each for the construction of 562 affordable social rental homes in Seville.
The investment will also drive urban regeneration in some parts of the city. The new homes will have an average rental price of €290 per month, and their construction will create 700 jobs.
The project – supported by the Investment Plan for Europe – will benefit around 1,000 people, with a focus on vulnerable groups such as single-parent families and victims of domestic violence.
Paolo Gentiloni, Commissioner for the Economy, said: I am delighted that the European Union is supporting a social project of such paramount importance for Spain. The agreement signed today will provide Seville with 562 new affordable social rental homes for particularly vulnerable groups. The construction of these homes will also create around 700 jobs.
The press release is available here. As of February 2020, the Investment Plan has mobilised €462.7 billion of investment across the EU, including €51.1 billion in Spain, and supported more than 1.1 million start-ups and small and medium businesses.