European Investment Bank makes €500m available for retrofitting

Bank to also provide €200m in funding over the next 40 years for the development of student accommodation across the country

Environment Minister Eamon Ryan, EIB president Werner Hoyer, and Finance Minister Michael McGrath sign an agreement on the new low-interest Home Energy Upgrade Loan Scheme. 

The European Investment Bank (EIB) has unveiled a series of investments which will see €500m in funding made available for home retrofitting and a further €200m for student accommodation across the country.

For the retrofitting loans, homeowners will be able to borrow between €5,000 and €75,000 on an unsecured basis over 10 years in order to undertake the retrofitting works. People availing of the loans will still be able to apply for retrofitting grants.