Rodríguez and Cuerpo will sign tomorrow 6,000 million to build more than 40,000 affordable rental homes

These 6 billion euros will be mobilized in the form of loans and guarantees to public and private developers.

Jul 28. () –

The Government will sign on Monday the agreements that will mobilise 6 billion euros through the ICO for the construction of more than 40,000 affordable rental homes over the next fifty years, according to the Minister of Economy, Trade and Business, Carlos Cuerpo.

The Minister of Housing and Urban Agenda, Isabel Rodríguez, and the Minister of Economy, Trade and Business, Carlos Cuerpo, will sign the agreements between the Ministry of Housing and Urban Agenda, the Ministry of Economy, Trade and Business and the Official Credit Institute (ICO) through which these 6 billion euros will be mobilized in the form of loans and guarantees to public and private developers.

These are funds linked to the Addendum to the Recovery, Transformation and Resilience Plan, where a new line of loans of 4 billion euros was created to expand the housing stock. In addition, the Government of Spain has created a line of guarantees for these loans for an amount of 2 billion euros.

The event will be attended by both ministers, as well as the president of ICO, José Carlos García de Quevedo, and the Secretary of State for Housing and Urban Agenda, David Lucas.

“The Government’s commitment is to increase the public housing stock to European standards, at least 9%, and we are going to achieve this by relying on public-private collaboration. I believe that this is the prototype of the model that we have to extend to broaden this objective of a public housing stock,” Rodríguez recently argued.

The ICO – Housing line is one of the five ICO funds linked to the loans of the second phase of the Recovery Plan and aims to provide financing for projects aimed at increasing the stock of social or affordable rental housing, as well as improving the existing social housing stock.