Record £30million European Housing Investment welcomed - Ritchie

Social Development Minister Margaret Ritchie MLA today welcomed confirmation that the European Investment Bank plan to invest £30million towards a number of Social Housing projects across Northern Ireland.

The announcement was made as Minister Margaret Ritchie hosted a UK and Ireland wide ‘Housing Work-stream’ Ministerial meeting to discuss a number of issues affecting social housing.

Paying tribute to both the European Investment Bank and the Housing Finance Corporation who have made the funding possible, Margaret Ritchie said: “When I launched the New Housing Agenda, I made it clear we needed to find more innovative ways to help support my priority to deliver more houses for those in greatest need. This record support from the European Investment Bank, facilitated by the Housing Finance Corporation, comes at a time when we plan to deliver more new homes than at any time in the last decade.

“It is a very timely and welcome boost for housing here and represents a huge vote of confidence in the work of our Housing Associations, who will be able to draw down this investment to support their development.”

The funding is aimed specifically at building new homes and will support wider urban regeneration initiatives and involve a number of schemes either already underway or due to start within the next 18 months.

Five Housing Associations will share this record level of Investment from Europe. They are, Fold, Trinity, Helm, Oaklee and North and West Housing Associations.

Minister Ritchie was joined in Newcastle Co.Down by Tom Hackett of the EIB,Director General for lending in Europe and Piers Williamson, Chief Executive of the Housing Finance Corporation.

Notes to editors:

1. The funding is provided through the Housing Finance Corporation in London and there are 32 Housing Associations across the UK to benefit from this recent tranche of funding.
2. Media enquiries to DSD Information Office on 028 9082 9078 or 07970 976894. Out of office hours please contact Duty Press Officer via pager number 07699 715440 and your call will be returned.