The European Investment Bank (EIB) has joined forces with Limerick City and County Council in an innovative partnership aimed at driving investment in retrofit to reduce energy consumption and costs in social housing.
Recognising the urgent need to address the social and economic impact of energy poverty, this collaboration aims to replicate successful investment models from across Europe to further accelerate home upgrades and make a tangible difference in the lives of thousands of households.
The new agreement was signed in Dublin on Tuesday by Ricardo Mourinho, Vice President of the European Investment Bank, Limerick City and County Council’s Chief Executive, Dr. Pat Daly, and Irish Minister for Housing, Local Government and Heritage, Darragh O’Brien, TD.
OPPORTUNITY
Limerick City and County Council’s Chief Executive, Dr. Pat Daly, expressed enthusiasm about the collaboration, emphasising the transformative impact it will have on local communities.
“This partnership between the European Investment Bank and Limerick City and County Council is a significant step towards creating warmer, more comfortable homes for our residents. With 177,000 social homes across Ireland, we face considerable challenges in addressing energy poverty. However, this joint effort not only tackles the social and economic dimensions but also contributes to job creation, as hundreds of employment opportunities are expected to emerge through the upgrading of existing homes.”
MANY BENEFITS
By combining resources and expertise, the European Investment Bank and Limerick City and County Council are poised to bring about positive change in social housing across Ireland. The partnership’s focus on energy efficiency will not only alleviate the burden of energy costs but also contribute to broader climate action goals. This work is being delivered in close cooperation with Dublin City Council and Cooperative Housing Ireland. Furthermore, the endeavour will stimulate job growth and result in warm, comfortable homes for families in need.
In recent years the EIB has provided more than €1 billion for social housing and urban regeneration investment across Ireland, including streamlined initiatives with the Housing Finance Agency, the National Development Finance Agency, local authorities and regeneration of Limerick City Centre.
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