Northern Ireland

Clanmil secures £135m for major social housing scheme

It is the second recent major funding announcement involving social housing Image copyright Thinkstock
Image caption It is the second recent major funding announcement involving social housing

One of Northern Ireland's biggest social housing landlords has secured £135m in bank loans to help fund 2,500 new homes.

Clanmil Housing Group said the financing will underpin an eight-year build programme which will support up to 500 jobs in the construction sector.

It is the second recent major funding announcement involving social housing.

Earlier in the month, the European Investment Bank agreed £280m of loans with two other housing associations.

"These investments demonstrate the social housing sector is playing an important role in bolstering and growing our economy," said Steve Amos, the chair of Clanmil.

The loans are "on attractive terms" from three local banks.

Around 40,000 people in Northern Ireland are on the waiting list for low-rent social housing.

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