EU backs nearly-zero-energy affordable housing in Sweden

The European Union is backing the construction of rental property to reduce the current housing shortage in Sweden’s largest cities. The European Investment Bank (EIB) signed on 29 January 29 signed a SEK 2.5 billion (around €236 million) loan agreement with Wallenstam AB to support the construction of sustainable affordable housing classed as “nearly-zero-energy-buildings” in Sweden.
Already work has begun on the “Väven” project, which will consist of 118 affordable rental homes.
“For Europe to transition to a climate-neutral economy, there is a huge need for investments in making our buildings seriously energy-efficient,” European Commission Executive Vice-President Valdis Dombrovskis said. “By using the EU budget guarantee to support this project with Wallenstam in Sweden, we are putting sustainability at the heart of how we invest EU-taxpayer’s money. The fact that the project is for affordable housing makes it doubly important.” As of December 2019, the Investment Plan has mobilised €13.2 billion in Sweden.