The Federal Home Loan Bank of Boston recently announced a slate of affordable housing projects that will receive a cumulative $56.4 million in grants, loans and interest rate subsidies through the home loan bank’s Affordable Housing Program (AHP).

“We are pleased to serve as a vital link, through our members, to critical financing that connects local residents and families to decent, affordable housing,” Edward A. Hjerpe III, the bank’s president and CEO, said in a statement. “AHP financing increases access to housing and also contributes to the creation of new jobs and economic growth in our communities.”

AHP funds were awarded through member financial institutions to projects that will create or preserve affordable rental and ownership housing, the home loan bank said in a statement. In total, $29.5 million dollars were awarded as grants and subsidies and the balance as subsidized advances or loans. The funds are used to create or preserve affordable housing and help pay construction, acquisition, or rehabilitation costs. Member financial institutions work with local developers to apply for AHP funding, which is awarded through a competitive scoring process.

The projects awarded funding through the AHP include an affordable housing units in Brewster, Brockton, Devens and Dorchester, among others.

The full project details are available here.