- New financing to back delivery of hundreds of new homes
- EIB Vice President discussed new housing engagement with Minister Browne
Today marks a significant step forward in expanding access to high quality, energy-efficient housing through a €400 million partnership between the European Investment Bank (EIB) and the Housing Finance Agency (HFA).
The new €400 million loan facility announced today will support the delivery of hundreds of Social and Affordable homes in Ireland.
Ireland is at the forefront of EIB-backed housing investment across Europe, leading by example in delivering affordable, sustainable homes at scale.
Provided by the EIB - the European Union’s lending institution - the loan programme will enable the Housing Finance Agency to provide 40-year fixed-rate finance for Approved Housing Body (AHB) and Local Authority customers. This ensures long-term stability and the fostering of innovative approaches like cost-rental models that are at least 25% below comparable market rents.
James Browne TD, Minister for Housing, Local Government and Heritage said: “The Housing Finance Agency are key to financing the delivery of social and affordable housing in Ireland. This new €400 million loan facility will enable the HFA to enhance their role in supporting the delivery of long-term, safe and secure homes for all.
Providing long-term fixed-rate finance for up to 40 years to Local Authorities and Approved Housing Bodies will help with securing a strong pipeline for social and affordable homes.
Receiving this support from our European colleagues, the EIB, is a timely reminder that our housing objectives in Ireland are ones that are echoed across the wider EU and that supporting the delivery of housing to ensure a robust and sustainable housing plan is not only a priority for Government, but also on a EU level.“
Earlier today at a development in north Dublin the EIB Vice President and HFA CEO witnessed first-hand how homes supported by HFA financing are transforming lives, with families benefitting from secure, long-term tenancies and rents well below market rates.
Speaking in Dublin today, EIB Vice President Ioannis Tsakiris said: “It is a real privilege to see, at first hand, how EIB-backed homes—through our partnership with HFA and with their customers —are transforming the lives of families. Behind every front door is a story of security, dignity and opportunity. Ireland continues to set a great example in affordable, sustainable housing in Europe, and the EIB is determined to build on this momentum. During our visit, we are working together to unlock new investment so that even more families can enjoy benefit from safe, high-quality homes. Today shows that when we join forces, we can turn Europe’s commitment to affordable housing into a reality—one family, one community at a time.”
“Ireland continues to be a leading partner for EIB-backed housing investments in Europe, with flagship projects setting new standards in affordability, energy efficiency, and community impact. This week’s visit is not just a milestone, but a springboard. The EIB and our Irish partners are committed to further expanding cooperation, drawing on the Bank’s new housing strategy to accelerate high-impact investment and ensure every region of Ireland benefits from this renewed focus.”
Deirdre Collier, Chief Executive Officer of the Housing Finance Agency said: "This new loan facility reflects the strength of our valued and long-standing partnership with the European Investment Bank, which has played a key role in supporting the delivery of social and affordable homes in Ireland over the past two decades. This collaboration with the EIB supports the Housing Finance Agency to provide long-term, fixed-rate finance to our customers at competitive rates. The availability of finance, which may be at fixed rates for periods of up to 40 years by the Housing Finance Agency offers long-term stability for housing providers, enabling the delivery of secure and affordable homes across a range of tenures, including Cost Rental. We are proud to work with the EIB to support the Irish State’s housing objectives and to ensure that more people across Ireland can access high-quality social and affordable homes.”
During this week’s visit to Dublin, the EIB discussed with James Browne, TD, Minister for Housing, Local Government and Heritage and Housing Finance Agency CEO Deirdre Collier the new ways to unlock even greater investment and impact through enhanced cooperation, aiming to deliver more affordable homes for Irish families.
Since 2007, the HFA’s €775 million partnership with the EIB has helped provide over 6,200 social and affordable homes nationwide.
In 2023, the EIB provided an additional €200 million to support student housing delivery.
Between 2020 and 2024, the EIB Group supported the construction or renovation of nearly 665,000 homes across Europe—creating stronger, more sustainable communities.
This investment reflects the EIB’s strengthened housing focus, launched earlier this year to accelerate delivery of affordable homes and revitalise communities across the EU.
In June the EIB Group launched its Action Plan on Affordable and Sustainable Housing, to expand support in size, scale and scope and deliver around one million more affordable homes across Europe by 2030. Earlier this week the EIB board approved EUR 400 million financing to support housing research, innovation, digitalisation, and manufacturing across Europe to develop new materials, accelerate modular construction and provide more energy efficient homes.
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers.Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.
High-quality, up-to-date photos of our headquarters for media use are available here.
The Housing Finance Agency
The Housing Finance Agency is a State-owned body that provides financing to Local Authorities, Approved Housing Bodies and Higher Education Institutions for housing-related purposes.
Cost Rental housing offers secure tenancies in sustainable, long-term homes. Rents are set to cover only the cost of financing, building, managing and maintaining the homes.