State to provide large loans to developers

The Irish Times is reporting that the Irish government is preparing to enter the property market and will provide large loans to property developers through the Ireland Strategic Investment Fund, managed by the National Treasury Management Agency.

The report states: “Given the shortage of new properties in the market and the weakening in price growth after introduction of new Central Bank lending caps, the fund’s aim is to facilitate the construction of up to 10,000 new homes.

A further objective is to support the creation of hundreds of jobs in the building sector.”

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