- The financial institution, NRW.Bank, once again reduces its funding allocation.
The North Rhine-Westphalia State's main bank, NRW.Bank, has once more reduced its financial resources. In the first half of this year, a total of 4.2 billion euros in funding was granted, as per the declaration from the bank's primary funding body. This represents a 7% decrease compared to the previous year, which itself saw a notable drop in funding. Interestingly, the housing sector witnessed an uptick in funding during the initial six months of 2024, with the bank recording a substantial 37% increase to reach 1.3 billion euros. Conversely, the economic sector saw a 20% drop in funding, reaching 1.2 billion euros. The bank reported that they were gradually returning to pre-COVID-19 levels. The infrastructure and municipalities sector also reported a decrease. The demand for fresh financing decreased by 17% during the first half of the year, amounting to 1.7 billion euros. Lastly, there's been an increase in demand for the bank's refugee accommodation program, with 115.7 million euros in funding allocated—a 57% increase compared to the previous year.
The reduced financial resources at NRW.Bank could potentially impact its housing policy strategies. Despite the overall decrease in funding, the housing sector in North Rhine-Westphalia experienced a significant increase, demonstrating the sector's relevance in the bank's housing policy.
