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Investment Plan for Europe: EIB and BGK establish Investment Platform for social and affordable housing in Poland

The European Investment Bank (EIB) and the Bank Gospodarstwa Krajowego (BGK), the Polish development bank, signed an agreement on 24 May to establish an Investment Platform that will provide some PLN 2.1 billion (approx. EUR 496 million) through 2021 to finance the construction and retrofitting of social and/or affordable housing units, as well as support the construction of associated infrastructure such as roads, drainage, utilities and recreational facilities in different municipalities across Poland.

date:  08/06/2017

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The European Investment Bank (EIB) and the Bank Gospodarstwa Krajowego (BGK), the Polish development bank, signed an agreement on 24 May to establish an Investment Platform that will provide some PLN 2.1 billion (approx. EUR 496 million) through 2021 to finance the construction and retrofitting of social and/or affordable housing units, as well as support the construction of associated infrastructure such as roads, drainage, utilities and recreational facilities in different municipalities across Poland. The platform is backed by the Juncker’s Commission’s Investment Plan for Europe, the so-called "Juncker Plan". Meanwhile, the European Investment Fund (EIF) along with partners Epiqus, a fund manager dedicated to investments with a social impact, and the Finnish Ministry of Economic Affairs and Employment, announced on 2 June that it will invest EUR 10 million in a social impact bond scheme, the first of its kind in Europe, to support the integration of between 2,500 and 3,700 migrants and refugees into the Finnish labour market through the provision of training and job-matching assistance.