The European Investment Bank (EIB) has allocated a loan of €250m to fund 2,580 affordable homes for 6,000 people in France’s ÃŽle-de-France region near Paris.
The money will go to In’li, an affordable housing subsidiary of Action Logement Group, which uses employers’ money to fund construction.
The housing will target the middle-class people who are having trouble finding places to live, and construction will meet the EIB’s environmental targets.
Ambroise Fayolle, EIB’s vice president, said: "Supporting the housing and construction market in ÃŽle-de-France via this loan to In’li addresses three priorities: improving the job situation, reducing the energy consumption of homes and providing SMEs in the building sector, in particular, with enough business to facilitate their recovery [from the coronavirus downturn]."
The buildings will also support In’li’s decade-long plan of creating 80,000 units in the ÃŽle-de-France region, with most centred around Paris and surrounding areas.
Image: Paris (David Watts Jr./Dreamstime)