France: The EIB and Banque des Territoires announce a new €500 million loan package to increase the supply of financing for the construction of affordable housing in France

At the social housing convention of Union Sociale pour l’Habitat (Social Union for Housing) and as part of their partnership, Director of Banque des Territoires Antoine Saintoyant and Director General and Head of EU Lending and Advisory Operations of the European Investment Bank Jean-Christophe Laloux signed a new €500 million loan refinancing line to support the construction of affordable rental housing in France and strengthen the cooperation of the two institutions in support of affordable housing, a key priority of European public policies.

In response to the housing crisis in Europe, affordable housing – which encompasses the concepts of social housing and intermediate housing – has been identified as a strategic priority by the European Commission, which announced the publication of a first European plan for affordable housing in 2026. The EIB, in agreement with the European Commission, has adopted an action plan to strengthen Europe's housing sector by providing the financing and expertise needed to build more innovative, energy-efficient and affordable housing.

Given the major role played by Banque des Territoires (Caisse des Dépôts) in financing the housing sector in France and the EIB’s operational priorities, housing has been a key area of cooperation between the two institutions since the partnership agreement signed in 2013. Five loan packages led by the EIB and distributed by Banque des Territoires have already been set up for a total amount of nearly €3.5 billion, helping to finance the construction and thermal rehabilitation of social housing units.

Strengthening the construction of intermediate housing

This new loan supporting intermediate housing operations aims to finance affordable housing for households that are struggling financially to find housing on the private market without, however, being able to aspire to or access social housing. This loan is part of a policy of ramping up this type of housing in France and responds to the commitment made in April 2024 by the government, Banque des Territoires and a number of investors to implement an investment programme in support of intermediate housing, aimed at gradually doubling its capacity in France, with 75 000 intermediate rental housing units to be built between 2024 and 2026.

The EIB refinancing concerns the establishment of a fixed-rate loan package for a total amount of €500 million, in two tranches of €250 million, to be distributed by Banque des Territoires.

Simplifying access to EU funding

This initiative aims to simplify access to EU funding initiated by the establishment in France in 2020 of the European Alliance for Sustainable and Inclusive Social Housing, bringing together Caisse des Dépôts, the EIB, the Council of Europe Development Bank (CEB) and Union Sociale pour l’Habitat (USH). It strengthens the role of Caisse des Dépôts as a one-stop shop for providing EU funding for social housing organisations. This coordinated approach offers an effective operating model to serve the sector that makes it possible to better articulate the various instruments to meet requirements in the regions.

Director of Banque des Territoires Antoine Saintoyant said: “Through our strategic collaboration with the European Investment Bank, we have the opportunity to improve and expand our affordable housing offer by aligning with the specific needs of the regions. This joint initiative enables us to make a major contribution to resolving housing challenges in Europe.”

EIB Vice-President Ambroise Fayolle said: “Modernising social infrastructure, including housing, schools and hospitals, is one of the EIB Group's top priorities. To meet the needs of society and the green transition, this year we launched a multiannual action plan to finance the construction in Europe of more affordable, innovative and better quality housing in terms of sustainability. We are pleased to team up once again with Caisse des Dépôts et Consignations through Banque des Territoires, our long-standing partner for housing in France.”

Background information

About the European Investment Bank

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, a stronger Europe in a more peaceful and prosperous world, and Europe’s capital markets union. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects, boosting Europe’s competitiveness and security. In France, the EIB Group signed more than 100 agreements in 2024, totalling €12.6 billion. Almost 60% of annual EIB Group financing supports projects that contribute to climate change mitigation and adaptation, and a healthier environment.

About the EIB's commitment to strengthening the European housing sector 

The EIB Group works closely with the European Commission, national governments, cities and promotional banks to strengthen Europe's housing sector, providing the finance and expertise needed to build more innovative, energy-efficient and affordable housing. The EIB Group bases its approach to affordable housing on three key priorities: support for innovative and sustainable building techniques, renovation of the ageing housing stock in Europe and construction of new affordable housing.

To speed up progress, the EIB Group launched a housing action plan to increase financing, provide end-to-end support and bring solutions to market faster. To make it easier for local authorities, promoters and local authorities to access this support, the Group has created the online portal More homes. Better homes. It provides housing sector stakeholders with the advice, funding and grants they need.

For an overview of the EIB Group’s initiatives for affordable housing in Europe, see More homes. Better homes.

About Banque des Territoires

Banque des Territoires is one of the arms of Caisse des Dépôts. It brings together in-house expertise for the regions. It is a single entry point for its clients and works alongside all regional players: local authorities, local public enterprises, social housing organisations, the legal professions, businesses and financial players. It supports them in carrying out their projects of general interest by proposing a continuum of solutions: advisory, loans, equity investments, deposits and banking services. By reaching out to all regions, from rural areas to cities, Banque des Territoires aims to maximise its impact, with a particular focus on the green transition and social and territorial cohesion. The 37 local offices of Banque des Territoires implement its strategy in all metropolitan regions and overseas territories.