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Over €200 million invested by EU bank to build 1,400 new social houses here

Over 700 houses are also to be renovated under the scheme.

Image: Sasko Lazarov

THE EUROPEAN INVESTMENT Bank (EIB) yesterday confirmed support for record new investment in social housing that will house over 2,000 families across Ireland.

It is expected that 1,400 new homes will be built and more than 700 properties upgraded in Dublin and across the country under the new initiative jointly financed with the Housing Finance Agency.

Using funding from a previous EIB social housing initiative, housing association Túath has built 68 new homes, comprising both apartments and houses in Beaumont, Dublin

Housing Minister Simon Coveney said over 1,400 families will have a new home as a result of this investment.

“A further 700 householders will see their properties upgraded.  The financial package will provide additional employment and support local construction suppliers.  We are seeing a vital economic and social investment of €405 million,” he added.

Under the new initiative €200 million of new financing from the EIB will be matched by the Housing Finance Agency to provide €405 million for new lending to support investment to upgrade social housing and improve energy efficiency.

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The new announcement follows a separate €300 million social housing lending programme agreed between the EIB and the Housing Finance Agency in December 2014.

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