Europe’s promotional banks commit €375bn by 2029 to support the EU Affordable Housing Plan

The European Association of Public Banks (EAPB) and the European Long-Term Investors Association (ELTI) welcome and endorse the European Commission’s first-ever European Affordable Housing Plan as a necessary response to Europe’s growing housing challenges.

To support this initiative and demonstrate their commitment, both associations estimate a collective total financing volume from their own members’ resources of EUR 375 billion by 2029 to support affordable, social and sustainable housing in Europe. This substantial ambition underscores their dedication to responding effectively to the diverse housing challenges across EU Member States.

To maximise the impact of the European Affordable Housing Plan, EAPB and ELTI underline the importance of ensuring that affordable, social and sustainable housing is adequately reflected in the next Multiannual Financial Framework (MFF), including through new opportunities to scale up financing. In this context, the adoption of an “open architecture” approach under EU instruments managed indirectly is essential, allowing national and regional promotional banks and other international financial institutions to implement EU initiatives alongside the EIB Group and thereby bring EU financial resources closer to national, regional and local needs. In parallel, a modernised State aid framework and simplified banking regulation should facilitate and accelerate investment in affordable, social and sustainable housing across the European Union.

Both associations stand ready to work closely with the European Commission, the EIB Group, Member States and all relevant partners to ensure that the European Affordable Housing Plan delivers tangible and lasting results where they are most needed.

For further details, please consult the full press release