EBRD Supports LifeSpot to Address Acute Housing Need in Poland
The European Bank for Reconstruction and Development is lending up to EUR 25 million to LifeSpot, an operator of residential rental accommodation in Poland, it said on Monday.
The loan will be used to build and operate a portfolio of rental apartments across the country, amid a chronic housing shortage exacerbated by inflation, high interest rates and an influx of refugees from Ukraine, according to the EBRD.
The project falls under the EBRD's Resilience and Livelihoods Framework, which aims to support Ukraine and other countries affected by Russia's war on Ukraine.
Poland has been experiencing historically high demand for medium- and long-term housing, due to systematic shortage of its housing stock.
The national shortfall of residential units has been estimated at 2-2.5 million amid rising prices due to the supply squeeze and inflation.
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