The issue of financing social and affordable housing in Greece is under discussion

The European Investment Bank Group is discussing possibilities for financing social and affordable housing projects in Greece.

The move is particularly significant following the adoption last month of the EIB's new strategic plan, which includes housing among the bank's eight key priorities. The issue was discussed at a working meeting today, 22/07. In particular, the EIB's finance department is also in talks with the regions and DYPA, with the aim of supporting – on extremely favorable terms – the construction of new houses, as well as changing the purpose of buildings so that they can be used at affordable prices in terms of housing, with a system of so-called “social compensation“(κοινωνικής αντιπαροχής).

Mr Tsakiris oversees housing for the whole of Europe on the EIB's steering committee, which last week organised a conference of more than 300 stakeholders and experts in the sector to discuss solutions to an issue that has become a topic of debate across the EUespecially in large cities and tourist destinations. This follows policy statements by Commission President Ursula von der Leyen in the European Parliament, which include the creation of a new pan-European platform for financing social and sustainable housing in cooperation with the EIB.

In Greece The EIB is reported to have is negotiating funding for housing for government employees on the islands and in tourist areaswhere rents have risen sharply, and in Athens – on land that will be allocated for this purpose by public authorities or institutions and with the assistance of funds from private investors.

Discussions are also ongoing on the construction of homes for flood victims in Thessaly, while negotiations on funding for student dormitories are at a more advanced stage. The EIB Group, in particular, offers long-term financing with extremely favorable interest ratesis particularly interested in three sectors of the housing sector:

• A pioneer in financing innovations in housing construction, including new technologies and materials.
• Secondly, in financing the energy modernization of buildings, including residential ones.
• And thirdly, in financing social and sustainable housing, especially for vulnerable groups and low-income people, as well as students.

Meanwhile, during the week, the EIB is expected to announce two major projects to finance small and medium-sized enterprises in cooperation with Greek banks, as well as major investments in the clean (green) energy sector.

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