Róisín Shortall (Dublin North West, Social Democrats)
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506. To ask the Minister for Environment, Community and Local Government the interest rates that the Housing Finance Agency charges to local authorities for lending to approved housing bodies for long-term lending; the rate of interest it obtains from the European Investment Bank; and if he will make a statement on the matter. [4122/16]

Alan Kelly (Tipperary North, Labour)
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The Housing Finance Agency lends directly to Approved Housing Bodies (AHBs), rather than via local authorities, for housing purposes. The current rates that apply in respect of long-term lending by the Housing Finance Agency to AHBs are set out in the table below.

Other fixed rates for terms less than 25 years are available from the Housing Finance Agency for AHBs as their needs dictate, with rates based on the market conditions prevailing at the time of drawdown.

In respect of the interest rate applying to funding obtained through the European Investment Bank (EIB), the most recent tranche drawn down by the Housing Finance Agency from the EIB was priced at 1.417%, fixed for 25 years.

The European Investment Bank can fund up to a maximum of 50% of each Approved Housing Body project/scheme, with the remainder financed by the Housing Finance Agency using its own funds/resources that have been borrowed or raised for these purposes .