EIB and Erste Bank promote affordable housing in Austria

EPA/NICOLAS BOUVY

A file photo dated 15 December 2008 showing an exterior view of the European Bank of Investment in Luxembourg. The European Investment Bank has put on hold lending to the German carmaker Volkswagen, amid concerns that a previous loan may have played a role in its emissions scandal, the president of the European Union's lending arm Werner Hoyer says 14 January 2016. 'For many, many years we have been active in high-tech research and development with Volkswagen,' Werner Hoyer said in Brussels. 'We were astonished, disappointed and we are now concerned about the allegations, including indications by senior company executives of improper and possibly fraudulent behaviour by Volkswagen.'

EIB and Erste Bank promote affordable housing in Austria


Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+

The European Investment Bank is providing Erste Bank with €100m in financing to support affordable housing in Austria. Erste Bank will add a further €100m of its own funds to the EIB financing, enabling it to invest a total of €200m in social housing over the next three years.
The agreement promotes the construction of new subsidized or social rental housing. For the first time, the financing will provide fixed interest rates with terms of up to 28 years for rental housing. The funds are expected to be used in urban areas where demand for affordable housing is particularly high.
An initial €50m tranche from the EIB was already signed in March 2019, while the second €50m tranche was signed by Erste Bank CEO Stefan Dörfler and EIB Vice-President Andrew McDowell in Vienna on Monday.

Share on Facebook
Share on Twitter
Share on Google+
Share on LinkedIn
+