Túath are purchasing the homes and letting them to families on waiting lists
A housing charity is to provide up to 190 social homes across Ireland.
The Túath Housing Association has announced a partnership with AIB to fund the acquisition of the houses.
Túath are purchasing homes from the State's Housing Agency and letting them to families on local authority housing waiting lists.
The charity says the properties are vacant, former rental units in need of repair.
As part of the initiative, Túath is refurbishing them with the cost of the works being added to the cost of purchasing the property.
AIB says it is providing initial funding of €15m towards the cost of the purchase and a repair bill.
The first tranche was used to complete the purchase and repair of 21 homes in the local authority areas of Dublin city, south Dublin, Donegal, Westmeath, Galway county and city, Kildare and Wexford.
Chairman of Túath Séamus Doherty says: "It is essential that more public and voluntary sector homes are provided for those shut out of the housing market.
"More could be spent, and spent more effectively by channelling housing expenditure, raised via private finance, through housing associations.
"At a time when we have historically low borrowing rates, the country should be borrowing and building much more than we currently are."
Eoghan O'Neill of AIB Corporate Banking added: "AIB is committed to playing a meaningful role in delivering more social housing in the months and years ahead.
"We are very proud of our involvement in this collaboration with Túath."