The EU is providing a €150 million (£124m) loan to help improve the energy performance of buildings in Austria.

The cash will be used for refurbishment schemes to boost the energy efficiency of properties in both the private and public sectors as well as increase the use of renewables.

New housing will also be given energy efficiency standards above the required minimum level in Austria.

The nation aims to increase the number of properties that consume “almost no energy”, with most being supplied from renewable sources.

Wilhelm Molterer, Vice-President of the European Investment Bank (EIB), which provide the loan said: “Austria is addressing the energy efficiency issue with great commitment at all levels. This will not only have a positive effect on housing quality and the energy balance but will also be of considerable benefit to the country’s construction industry as significant know-how must be developed and applied to ensure the right solutions.”