€750m Nama-run fund aims to build 6,000 houses

A €750m State fund for developers to build at least 6,000 homes will be rolled out in the summer, but loans will be treated strictly like any commercial agreement operated by banks.

Nama will oversee the new Home Building Finance Ireland (HBFI) agency, which will lend to private developers who may have been denied loans from the banks.

Announcing the agency, Finance Minister Paschal Donohoe insisted developers availing of the market-rate loans would have the same obligations as applied in commercial deals.