Bank of Ireland has today announced a number of measures to support Ireland’s economic recovery with a particular focus on housing, local enterprise and communities, and customers impacted by COVID-19.
With the Irish economy now reopening more quickly than originally planned, the Bank has also called on the new Government to put in place the COVID-19 Credit Guarantee Scheme for Irish SMEs as quickly as possible.
The new measures announced today include:
1. Homebuilding and green investment – €1.4 billion in new funding
2. Local enterprise and communities – €1 million boost
3. COVID-19 support teams and resources for customers impacted by the pandemic
The Bank is making an additional €1 billion in funding for green mortgages, loans and discounts available over the coming year through the Bank of Ireland Sustainable Finance Fund.
To support homebuilding, the Bank is also increasing the amount earmarked for residential development lending by €400 million to a total of €2 billion. Bank of Ireland is currently providing financial support for the development of a range of housing types including environmentally sustainable Nearly Zero Energy Building Standard (NZEB), A Rated, and social housing.
Following the donation of €1 million in emergency funding to communities impacted by COVID-19 in March, the bank will be injecting an additional €1 million to local communities and a range of organisations over the coming months.