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A 100 million euro loan for social housing in Ireland

7 December 2009

PARIS - Housing Finance Agency (HFA) and the CEB today signed a loan contract worth 100 million euros. HFA was represented by its Chief Executive Officer, Mr Ian d'Alton, and its Head of Treasury, Mr Barry O'Leary; Vice-Governor Apolonio Ruiz-Ligero represented the CEB.

The CEB funds will be used to finance the initiatives undertaken by the HFA within its Paths to Home Ownership programme which provides a full range of loans for low-income persons. 

This is the CEB’s second operation with HFA and will enable it to provide long-term financing for 41 local authorities and voluntary and co-operative housing bodies throughout Ireland. This will contribute to strengthening social cohesion just at a time when the country is facing a grave economic crisis. 

HFA is a company limited by shares and a public agency established by the Irish Government in 1982. Its main role is to grant loans to local authorities in Ireland to finance municipal investments for social housing, environmental infrastructure and mortgage loans for low-income populations. 

Since the country’s accession to the CEB in 2004, 6 projects have been approved in Ireland for an accumulated amount of 310 million euros.


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