EIB backs Ireland's housing plan with €400m loan

The European Investment Bank (EIB) is supporting Ireland's housing plan with a €400 mln loan to the Housing Finance Agency (HFA), helping build hundreds of new social and affordable homes across Ireland.

EIB Ireland housing loan signing

This partnership aims to increase access to good-quality, energy-efficient housing and create sustainable communities. The HFA will use the loan to offer long-term, fixed-rate financing (40 years) to local authorities and approved housing bodies. This will provide financial stability for housing providers and support the expansion of cost-rental housing, which will be offered at least 25% below market rates.
EIB Vice President Ioannis Tsakiris said: “Ireland continues to set a great example for affordable, sustainable housing in Europe. The EIB is committed to deepening this collaboration to ensure more families can access safe, high-quality homes. Today’s announcement demonstrates what is possible when we work together to turn Europe’s housing commitments into real impact—one family, one community at a time.”
James Browne TD, Minister for Housing, Local Government and Heritage, stated: “This €400 million facility will allow the HFA to further strengthen its support for Local Authorities and AHBs, helping secure long-term, affordable homes for people across the country. This collaboration with the EIB highlights our shared European goal of ensuring that everyone has access to sustainable, secure, and affordable housing.”
Deirdre Collier, CEO of the HFA, added: “This new facility reflects the strong and enduring partnership between the HFA and the EIB. With up to 40 years of fixed-rate financing, our customers gain long-term stability, supporting the delivery of affordable homes and innovative models like Cost Rental.”
Since 2007, the EIB and HFA have partnered to finance over 6,200 homes with €775 mln. In 2023, an additional €200 mln was provided for student accommodation. The EIB's commitment to housing is expanding under its new Action Plan on Affordable and Sustainable Housing, launched in 2024, which aims to provide up to one million affordable homes across Europe by 2030.
Beyond direct housing construction, the EIB recently invested €400 mln in housing research and innovation. This funding will support the development of advanced materials, modular construction techniques, and energy-efficient technologies, all contributing to sustainable urban development in Europe.