The Social Impact Fund (FIS) has granted a loan of 11 million euros to ALAS Affordable Rental Housing with the aim of improving access to affordable housing for low-income households.
These FIS funds, channeled through Cofides, will be used for the purchase and management of approximately 650 homes spread across nine properties located in Madrid and Barcelona, which will be offered for rent following criteria regulated by the public administration.
According to estimates, the initiative will reach about 1,600 people and includes the commitment to reserve at least 200 homes for tenants with incomes equal to or less than three times the Public Indicator of Income for Multiple Effects (IPREM).
The scheme developed by ALAS is based on collaboration between the public and private sectors, through the use of public land under a concession regime and professionalized management of the residential stock.
This action is integrated into the FIS's Social Impact Housing Line, designed to address one of the major structural challenges in Spain: access to affordable housing, in line with the government's diagnosis.
With this new operation, the Social Impact Fund will have committed around 27 million euros through five operations aimed at projects focused on facilitating access to decent housing in Spain.
The signing of the operation took place at the headquarters of the Ministry of Inclusion, Social Security and Migrations, in an event presided over by the Secretary General for Inclusion, Elena Rodríguez, who highlighted the importance of public-private collaboration to expand the stock of social and affordable housing, emphasizing that "it is one of the priorities of the Government of Spain".
Likewise, the president and CEO of Cofides, Ángela Pérez, highlighted that "the Social Impact Fund acts as a catalyst to channel investment towards social housing projects".
The operational partner of ALAS VAL, Alejandra Mora, stated that this agreement consolidates them as "a scalable and differential platform, ready to converge with European best practices".
The FIS was established by the Government through the addendum to the Recovery, Transformation and Resilience Plan (PRTR) and is funded by resources from the NextGenerationEU instrument. It has an allocation of 400 million euros and provides financial support for viable initiatives that contribute to addressing social and environmental challenges that do not yet have sufficient coverage.