The minister was joined by senior government officials for his visit to Luxembourg and discussed a potential pilot project, examined funding models used across Europe and methods of broadening EIB support for new social housing investment in Ireland.
EIB technical and financial experts outlined successful funding models that have supported new social and affordable housing investment across Europe, which could be adapted to unlock investment in Ireland.
Mr Murphy said: “Examining experience of successful models for financing social housing from across Europe is key to addressing Ireland’s housing shortage.
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“Discussions with EIB housing experts in Luxembourg this week will contribute to ongoing initiatives to stimulate new investment in the sector.
“I welcome the EIB’s engagement to assess a scheme involving social, affordable and private housing that has the potential to strengthen future housing schemes across the country.
“This builds on the EIB’s longstanding support for investment in Irish social housing.”
In the last five years, the EIB has provided €350m for investment by approved housing bodies across Ireland in cooperation with the Housing Finance Agency.
Last year, the EIB hosted a workshop with housing finance experts from across Ireland to exchange ideas on the financing of social and affordable housing.
Over the last decade, the EIB has provided €11.2bn for social housing investment across the world.
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