Bank of Ireland makes extra 2.5bn available for housing development [Video]

Bank of Ireland has made an additional €2.5bn available for housing development over the next three years, including a further €600m for social and affordable housing.

The funding injection represents a 40% increase from the €1.75bn previously made available by Bank of Ireland for housing development. The amount available for the development of social and affordable housing will be raised from €400m to €1bn.

The bank aims to support the construction of 25,000 housing units, including houses and apartment developments, by 2026.

“The greatest challenge facing Irish society today is housing. The simple fact is that we need more.

“Our ambition is to play an even bigger role in meeting this challenge by investing more of our capital to drive more supply,” said Gavin Kelly, CEO of Bank of Ireland Corporate & Commercial Banking.

“While there’s a serious mismatch between supply and demand, we also need greater diversity in housing to support the evolving …