The European Investment Bank (EIB) is to loan the west German state of North Rhine-Westphalia €200m to finance housing for refugees.
The money will be channelled through a refugee programme by state development bank NRW. A portion of the financing will come from the EIB’s €4bn support package for EU municipalities hosting Ukrainian refugees.
Refugees have also arrived in the region from Afghanistan, Iran, Iraq and Syria.
A press release from the EIB says many municipalities in Germany are “reaching the limits of their housing capacity”.
Gabriela Pantring, NRW’s deputy chair, said: “The local authorities are greatly committed to providing safe housing for these people. Through this agreement, we are channelling funds from the EU bank to North Rhine-Westphalia to relieve the burden of financing accommodation on local authorities.”
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