NRW.BANK and the Council of Europe Development Bank (CEB) have signed a new €125 million loan agreement to expand funding for refugee accommodation in North Rhine-Westphalia, Germany’s most populous state. This new loan builds on an earlier €200 million deal signed two years ago, raising their total loan package to €325 million. With co-financing from NRW.BANK, at least €650 million will go to help cities and towns improve or expand housing for refugees, including many from Ukraine.
The funds are designed to give municipalities access to low-interest loans for acquiring, constructing, or updating shelters and homes for displaced people. Gabriela Pantring, Deputy Chairwoman of NRW.BANK’s Managing Board, explained, “The funds will help us to further strengthen NRW.BANK’s refinancing base and provide low-interest promotional loans to municipalities… to modernise and expand their social infrastructure – and shape a liveable future in their local areas.”
CEB’s Vice-Governor for Social Development Strategy, Johannes Boehmer, praised North Rhine-Westphalia’s progress in securing safe housing and promoting integration for newcomers in difficult times.
“The strides municipalities… have made in securing decent, safe accommodation for refugees and other vulnerable groups… have been impressive,” he said, adding that the new agreement proves CEB’s commitment to supporting this work.
NRW.BANK and CEB have worked together on social investment projects since 2009, backing initiatives in housing and education. This latest loan responds to the ongoing needs created by Russia’s invasion of Ukraine and arrives just before the Ukraine Recovery Conference in Rome on July 10-11.
With new resources now available, officials hope cities in North Rhine-Westphalia will be better equipped to welcome and support refugees as they rebuild their lives.
