News
CEB signs additional €100 million loan to Gewobag to expand social and affordable housing in Berlin
19 February 2026
Paris – The Council of Europe Development Bank (CEB) and Gewobag, one of Germany’s largest municipal housing companies, have signed an additional €100 million loan agreement to scale up the delivery, modernisation and energy-efficiency of social and affordable housing in Berlin.
The new CEB loan responds to Berlin’s persistent shortage of affordable rental units and the city’s commitment to ambitious climate objectives. It is expected to deliver more than 300 new rental units and refurbish 1 575 existing apartments across several Berlin districts. The loan will finance modernisation investments, complemented by housing extensions and a large-scale new construction. The loan will co-finance 193 additional social housing units reserved for eligible beneficiaries as part of a large flagship development in Berlin-Spandau that will provide a total of 2 000 additional apartments.
Markus Terboven, member of the Gewobag Board: “With the CEB, we have now signed our second major financing. Thanks to this successful collaboration, Gewobag can once again make a strong statement for the future of affordable housing in Berlin. The financing not only ensures the modernisation and expansion of the housing stock but also actively promotes our climate protection goals by implementing significantly improved energy efficiency standards. This strategic partnership is another crucial step towards sustainable urban development and in securing the quality of life for the people of this city.”
“With this new loan, the CEB is proud to deepen its collaboration with Gewobag, a reliable social housing partner, to generate more tangible social impact in one of Europe’s most strained housing markets,” said Carlo Monticell, the CEB’s Governor.
This additional loan builds on a first €100 million CEB loan approved in 2020, which has been fully disbursed, delivering 1 771 new and refurbished housing units benefiting an estimated 4 490 residents, most of them from low-income or vulnerable households.
The additional loan will support Gewobag’s strategy to build 7 000 new apartments by 2035 and invest €1.55 billion in modernisation between 2025 and 2035, addressing continued housing demand across the city and improving living conditions for vulnerable households while contributing to Berlin’s climate objectives.
About the CEB
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from its 43 member countries. The CEB finances investment projects and provides technical assistance in social sectors such as education, health and affordable housing, while focusing on the needs of vulnerable people, as well as on the social dimensions of climate change and the environment. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. The CEB, which has a triple-A credit rating, funds itself through international capital markets. In addition, the CEB receives funds from donors to complement its activities.
About Gewobag
With around 76 000 apartments and more than 150 000 tenants, Gewobag is one of the largest real estate companies in the capital and nationwide. By 2030, the state-owned housing company aims to expand its portfolio by approximately 10 000 apartments through new construction. Here is the link to the online magazine: www.sowohntberlin.de
More information about Gewobag can be found at: www.gewobag.de