BAKU, Azerbaijan, March 7. The European Commission and the European Investment Bank (EIB) Group are joining forces with national promotional banks and international financial institutions to expand financing for affordable and sustainable housing across Europe, Trend reports.
Announced at the EIB Group Forum in Luxembourg, the initiative aims to address the growing housing crisis by mobilizing public and private investment under the Commission’s upcoming European Affordable Housing Plan.
The EIB Group has outlined an Action Plan for Affordable and Sustainable Housing, committing around €10 billion over the next two years. The plan will support the construction of new homes, energy-efficient renovations, and the use of sustainable building materials, with a goal of delivering 1.5 million new or renovated housing units across Europe. To facilitate access to financing, the EIB has also launched a housing portal as a one-stop resource for beneficiaries.
EIB Group President Nadia Calviño emphasized the social and economic importance of affordable housing, stating that the EIB and the Commission are working on a pan-European initiative open to additional partners. European Commissioner for Energy and Housing Dan Jørgensen highlighted the EU’s commitment to increasing funding, adjusting state-aid rules, and working with stakeholders to develop the European Affordable Housing Plan.
The initiative comes amid concerns over Europe’s housing shortage, particularly in major cities, as well as the need to improve energy efficiency. The EIB’s investment survey indicates that low productivity in the construction sector and rising energy costs further complicate housing affordability.
Through partnerships with national and international financial institutions, an EU-wide rollout, and increased private sector involvement, the EIB Group aims to enhance access to sustainable housing solutions and support economic growth across the region.