Poland secures funding for 1300 affordable homes
The European Investment Bank (EIB) is lending PLN147m (£28m) to finance the construction of 1,300 affordable homes in Poznań, Poland.
The money is being lent to Polish municipal housing company, Poznańskie Towarzystwo Budownictwa Społecznego (PTBS). It will contribute to the provision of housing for people whose incomes are too high for them to benefit from social housing, but whose means are deemed insufficient to secure housing on the open market.
The homes backed by the EIB are for rent, with a purchase option under certain conditions. Funding is also being provided for related technical infrastructure, such as the water mains, the sewage system, urban roads, garages and parking spaces. Commercial and community services infrastructure and the recreational and educational facilities, necessary for the proper functioning of residential areas, will also be built using the EIB financing.
The new affordable housing units, which are expected to be completed by 2021, will be located in several districts of Poznań.
EIB vice-president Vazil Hudák, responsible for Bank’s activity in Poland, said: “We are happy to team up with PTBS and support its undertaking, as it will reduce social exclusion by making housing in Poznań more accessible. The Investment Plan for Europe is also aimed at financing social infrastructure to support the solidarity economy, and this project is a great example of that. We believe this project might become a model for other municipalities intending to finance their urban projects.”
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This article was published on 15 Feb 2017 (last updated on 15 Feb 2017).