BAKU, Azerbaijan, May 27. The European Investment Bank (EIB) and Czech bank Česká spořitelna have announced a joint initiative to develop over 700 affordable housing units in Prague, primarily for public-sector employees, Trend reports.
This marks the first project of its kind in the Czech Republic.
The EIB will provide a loan of up to 60 million euros, representing nearly a third of the project’s total cost of 187.5 million euros. The remaining financing will come from DBČS, a subsidiary of Česká spořitelna focused on affordable housing.
The new apartments will be built across four locations in Prague, with phased delivery scheduled through 2025 and early 2026. The project targets key public-service workers, including nurses, teachers, police officers, and administrators.
The housing units will meet high energy-efficiency standards, with PENB A and B ratings, and include features such as green roofs and water management systems.
The initiative is supported by the InvestEU Advisory Hub and serves as a pilot for a national framework to expand access to affordable rental housing in the Czech Republic. It also builds on a similar model previously implemented in Austria.
The development is expected to contribute to both housing affordability and the local economy by generating employment during construction and strengthening public-service infrastructure.