EIB provides funding to Germany to support refugee housing

The European Investment Bank (EIB) and NRW.BANK have agreed to help the German state of North Rhine-Westphalia house refugees. 

The EIB will provide NRW.BANK with a €200 million framework loan to finance the construction, refurbishment and extension of residential buildings for temporarily or permanently housing refugees across North Rhine-Westphalia.

Part of the financing will be via the EIB’s €4 billion Ukraine support package for EU municipalities that have hosted Ukrainian refugees since Russia’s full-scale invasion of their country.

“Suitable accommodation is the foundation for the ongoing integration in Germany of those seeking protection from war and persecution,”  said EIB Vice-President Nicola Beer, who oversees financing in Germany.

According to the EIB, refugees continue to arrive in North Rhine-Westphalia in large numbers. Many municipalities are reaching the limits of their housing capacity. In addition to Ukraine, the refugees come from countries including Syria, Afghanistan, Iran and Iraq.

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Press release