The Federal Home Loan Bank of Des Moines has provided more than $51.6 million in affordable housing grants in its district, made up of 13 states, including Iowa, and three U.S. Pacific territories, according to a release. In Iowa, FHLB Des Moines provided nearly $4.4 million for 13 projects, including 30 units of affordable housing in Pleasant Hill. The grants enable the construction of new affordable houses or the rehabilitation of old properties into new, modern, affordable homes or rental units. In 2017, the grants helped fund the creation and rehabilitation of more than 2,000 units in the district into affordable housing. The grants fall under the bank’s Competitive Affordable Housing Program, which encourages partnerships between FHLB Des Moines member financial institutions and local housing providers to construct new and restore existing homes and rental units to ensure housing for the community. Beyond housing, the program works to generate jobs by employing local businesses to complete projects.