Media Release
18th February 2015
The Irish Council for Social Housing (ICSH) has welcomed the announcement of the new investment programme for housing backed by the European Investment Bank (EIB) and Housing Finance Agency (HFA) which will see an additional 2,000 units delivered over the next three years.
Giving his reaction to the news, Mr Donal McManus, CEO of the ICSH said, ‘Access to low cost, long term finance is a key component for housing associations to increase delivery of social housing’. He added, ‘The ICSH had sought such a facility for the sector and this finance, offered at a 25 year fixed rate, will enable housing associations to access the necessary funds to achieve their ambitious development plans for upgrade and delivery of social housing to those most in need‘.
Mr McManus concluded, ‘Members approved to access this finance have a number of projects proposed which can be delivered under this innovative funding mechanism and it is expected that the fund will be oversubscribed‘.
ENDS
