Seán Canney TD, Minister of State for International and Road Transport, Logistics, Rail and Ports and Leader in Cabinet of the Independent Ministers, has welcomed today’s announcement of a new €600 million equity programme involving the Ireland Strategic Investment Fund (ISIF) and the national banking sector, which brings overall equity support for housing delivery to €1 billion.

The new programme will see €400 million invested by ISIF, alongside a further €200 million from the national banks, providing much-needed equity finance to homebuilders, particularly SME developers. This new programme, together with previous ISIF equity funding, brings total equity investment in homebuilding to €1 billion. The funding is expected to unlock up to €2 billion in total development finance, combining debt and equity, to support the delivery of new homes.

Welcoming the announcement, Minister Canney said: “This €600 million equity programme is a significant and practical intervention to support housing delivery at scale. By supporting private sector investment alongside State-backed equity and backing SME developers, it will help unlock up to €2 billion in development funding and remove one of the key barriers to getting homes built.”

Minister Canney noted that ISIF’s equity initiatives have already supported the delivery of over 19,500 homes, with the Fund now on track to exceed its target of 25,000 new homes by 2030.

“Equity access is essential for smaller and medium-sized builders who are ready to deliver but need support to scale up. This programme strengthens their position, supports sustainable growth in the construction sector and helps ensure a steady pipeline of housing supply.”

Minister Canney concluded: “This approach is about more than finance alone. It’s about building a strong, sustainable and skilled development sector that can deliver homes consistently into the future. That is essential to meeting our national housing targets and supporting communities across the country.”

The new ISIF and National Banks Equity Programme forms part of the Government’s wider housing strategy to increase supply and improve affordability.