At the EIB Group Forum in Luxembourg, European Commissioner for Energy and Housing Dan Jørgensen and EIB Group President Nadia Calviño emphasized the need for coordinated action to address housing challenges under the upcoming European Affordable Housing Plan.

The EIB Group has finalized an Action Plan for Affordable and Sustainable Housing, targeting €10 billion in investments over the next two years. The plan focuses on building new affordable homes, renovating existing housing to enhance energy efficiency, and promoting sustainable construction materials and technologies. Additionally, the EIB launched a housing portal to provide guidance and financing access to beneficiaries. The investment aims to deliver 1.5 million new or renovated housing units across Europe. This initiative will also form part of a broader pan-European investment platform, open to other financial entities like NPBs and IFIs, with the Council of European Development Bank showing interest in participating.

The urgency of addressing affordable housing is underscored in the EIB Group's latest investment survey, which highlights the issue as a major concern for economic growth, especially in large cities. The report also identifies challenges like low productivity and limited innovation in the construction sector, as well as rising energy costs and emissions. With 46 million Europeans facing energy poverty, improving the energy efficiency of housing stock is a critical focus.

Working closely with the Commission's Task Force for Housing, Member States, regions, cities, NPBs, and IFIs, the EIB Group will drive efforts to expand affordable and sustainable housing supply. The strategy is structured around four pillars: enhancing partnerships for better access to finance, expanding regional support across the EU, adopting a value-chain approach to housing projects, and encouraging private sector involvement.

In July 2024, the EIB Group's Housing Task Force hosted an event with 300 stakeholders to discuss expanding financial support for housing initiatives. Follow-up technical meetings in autumn helped shape the framework for the pan-European investment platform, ensuring coordinated and impactful progress.