The European Investment Bank (EIB) and the Housing Finance Agency (HFA) have announced a €400 million partnership to expand access to high-quality, energy-efficient, and affordable housing in Ireland. This new loan facility will finance the delivery of hundreds of social and affordable homes across the country, further strengthening Ireland’s leadership in sustainable housing investment supported by the EIB.
The EIB, the European Union’s lending arm, will provide long-term, fixed-rate financing for up to 40 years to Approved Housing Bodies (AHBs) and Local Authorities through the HFA. This will ensure stability and foster cost-rental housing models that keep rents at least 25% below market rates. Minister for Housing, Local Government and Heritage James Browne highlighted that this initiative aligns with both Ireland’s and the EU’s shared commitment to delivering long-term, secure homes for citizens.
During a visit to a north Dublin development, EIB Vice President Ioannis Tsakiris and HFA CEO Deirdre Collier witnessed firsthand how EIB-backed homes are transforming lives by providing families with affordable and secure tenancies. Tsakiris praised Ireland’s leadership in affordable housing and reaffirmed the EIB’s dedication to deepening cooperation with Irish partners to accelerate high-impact investment.
HFA CEO Deirdre Collier emphasized that the loan facility underscores the strength of the long-standing partnership with the EIB, which has supported the delivery of social and affordable housing in Ireland for over two decades. The HFA’s ability to offer long-term, fixed-rate finance enhances housing providers’ capacity to deliver secure, affordable homes across multiple tenures, including cost-rental housing.
Since 2007, the EIB’s partnership with the HFA, totaling €775 million, has financed more than 6,200 social and affordable homes across Ireland. In 2023, the EIB also committed €200 million to support student housing development. Between 2020 and 2024, the EIB Group contributed to the construction or renovation of nearly 665,000 homes across Europe, advancing sustainable and inclusive communities.
The new financing aligns with the EIB’s broader Action Plan on Affordable and Sustainable Housing, launched in 2024, which aims to deliver one million additional affordable homes across Europe by 2030. The initiative reflects the EIB’s commitment to supporting climate-resilient, inclusive, and sustainable infrastructure in line with EU policy objectives.
The Housing Finance Agency, a state-owned institution, continues to play a central role in financing housing projects for Local Authorities, AHBs, and higher education institutions. Its cost-rental model ensures long-term affordability by setting rents to cover only the actual costs of construction, financing, and maintenance, helping to create stable, sustainable communities throughout Ireland.
