The value of loans for Social Housing Associations (TBS), housing cooperatives, and municipal companies for social rental housing (SBC) will exceed PLN 1 billion, Bank Gospodarstwa Krajowego (BGK) informed. In the information, the director of the department of housing loan programs at BGK, Dariusz Stachera, explained that the Social Rent Housing (SBC) program consists of the fact that BGK grants long and low-interest loans to TBSs, housing cooperatives, and municipal companies.

"Borrowers in the SBC program can be Social Housing Societies, both municipal and public in general, as well as private housing co-operatives and municipal companies. SBC loans are granted by BGK for a very long period, up to 30 years, and they also have extremely favorable interest rates," the director said. 

He explained that the interest rate on the loan is the equivalent of the 3-month WIBOR rate, which is today around 0.2 percent.

"Both in the Housing Development Fund and in the Subsidy Fund will be a lot of funds – these are multi-billion amounts, and when it comes to lending, i.e. funds that BGK can allocate to granting loans, we have above PLN 1 billion available pool for the next edition of the program," Stachera added.

The bank's representative pointed out that a lot of changes have recently been introduced in the housing package, i.e. a series of acts aimed at supporting the development of housing in Poland. It includes increasing the grant for municipalities (up to 25-35 percent) or creating Government Housing Development Fund.

(PAP)