£1 Billion EIB Backing For UK Social Housing

The European Investment Bank has agreed to provide £1 billion for new social housing investment across the UK in partnership with the Housing Finance Corporation (THFC). The expanded Affordable Housing Finance programme will help to alleviate shortages in affordable housing and accelerate construction of new build social housing. The new engagement follows the successful allocation of a previous £500 million loan under the Affordable Housing Finance initiative, to registered providers of social housing in the UK. The 30 year long-term EIB loan will be matched by THFC, and benefit from a government guarantee, and support £2 billion of overall investment in new social housing and urban regeneration schemes by housing association across the country. Over 20,000 new affordable homes backed by EIB are expected to be built under the initiative. Read more on the EIB website.