Agreement with the public banking system to fund public and cooperative housing
The Official Credit Institute (ICO) and the Catalan Finance Institute (ICF) are to open up a credit line for 140 million euros, allowing foundations and cooperatives to build and renovate 1,000 flats for social housing and co-housing projects on municipally owned sites in a maximum period of ten years.![](https://media-edg.barcelona.cat/wp-content/uploads/2022/07/28150031/F4A8850-760x428.jpg)
The funding will cover the entire cost of projects, taking into account taxes and not including the land. As a rough guide, in 2022 the threshold will be 120,000 euros per flat. Organisations will be able to return the sum over a period of up to 30 years.
Projects wishing to access this credit must be: environmentally sustainable, use building materials which pollute very little, have a maximum energy efficiency rating and offer below-market rental prices.
Boost for the third sector, cooperatives and public housing
The deal is very significant for the magnitude of the sum involved, establishing public-private collaboration which guarantees:
- Public ownership of land
- Boost for rents and co-housing
- Support for non-profit operators, helping them get access to funding.
![](https://media-edg.barcelona.cat/wp-content/uploads/2022/07/28150050/F4A8989-760x428.jpg)
![](https://media-edg.barcelona.cat/wp-content/uploads/2021/11/04141522/GR_15502_CARRER_CIUTAT-DE-GRANADA-scaled-1-760x428.jpg)
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