The housing, care and property-management group has received the first 拢85m of 拢185m agreed with the EIB last year.
The money will support the next phase of Wheatley鈥檚 new build programme, providing 1,400 affordable homes as well as improving thousands of existing properties. Wheatley鈥檚 new-build programme will see 7,500 homes built from Balloch and Dumbarton through Glasgow, West Lothian and Edinburgh to North Berwick by 2025.
The interest rate is under 1.5%. Chair Alistair MacNish said: 鈥淔unding from the EIB represents extraordinarily good value for our customers, enabling us to access finance at a low interest rate. We are pleased that the EIB has confidence in Wheatley Group and our ambition to improve homes and lives across Scotland.
鈥淭he low interest rate represents a real vote of confidence in our organisation and the sector more widely, and provides us with the means to invest significantly in our housing stock and communities, with projects that will deliver top quality, green homes for the future.鈥�
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