Irish peer-to-peer lender Initiative Ireland is set to support the building of new homes with €600m (£518m) of development loans backed by Fairfield Real Estate Finance.
The partnership will help build 5,000 new homes across Ireland during the next three years.
Initiative Ireland said the move would create 20 new finance jobs at the platform and support more than 3,000 construction roles across the sector.
“As a sustainable finance company, we are focused on supporting projects that reflect the underlying need for housing,” Sinead Byrne, chief operating officer for Initiative Ireland, said.
“We are especially focused on private housing offered at affordable or mid-market prices or social housing, because we understand the market.
“We also understand the challenges faced by those developers and we’re committed to working with them to overcome obstacles and deliver energy-efficient housing for everyday people across Ireland.”
Chris Wilson, chief executive of Fairfield Real Estate, said the company was proud to work with Initiative Ireland on sustainable housing projects.
“At Fairfield we work to support experienced commercial property developers and owners across the UK and Ireland with competitive and flexible finance,” he said.
“We have exclusively partnered with Initiative Ireland to provide the same value to residential developers, leveraging Initiative Ireland’s specialist skills and residential focus. We are proud to be joining their impact investor community.”
The partnership was also welcomed by Ireland’s minister for housing, local government and heritage, Darragh O’Brien.
“It is great to see Enterprise Ireland-backed companies such as Initiative Ireland, successfully attracting and building partnerships with globally recognised firms, delivering and supporting new jobs here in Ireland as we work to stabilise the jobs and housing market,” he said.