Initiative Ireland to lend €600m to build 5,000 new homes – RTE 24th May 2021

Initiative Ireland has launched a new sustainable finance partnership for the construction of residential homes with Fairfield Real Estate Finance.

Initiative Ireland aims to significantly increase the scale of its lending activity by €600m which will enable small, medium and large-scale developers to deliver 5,000 new homes nationwide over the next three years.

It said this will support over 3,000 construction jobs and will create 20 new finance jobs at Initiative Ireland.

Initiative Ireland specialises in funding social, affordable and mid-market housing developments nationwide. An impact finance company, its focus is on delivering environmental and social impact through ethical and innovative financial solutions.

Initiative Ireland is supported by Enterprise Ireland as a High Potential Start-Up and is headquartered at NovaUCD.

It aims to deliver financially inclusive and sustainable products to tackle social and environmental challenges.

The company last year announced a new partnership with the Credit Union Development Association (CUDA), which will enable Irish credit unions to provide funding to approved housing bodies across Ireland.

Between the CUDA partnership and the partnership announced today, Initiative Ireland is now positioned to deliver over €1.5 billion of funding to the market over the next five years….

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