News
Administrative Council approves new loans to support social projects
5 November 2015
Belgium: € 6.4 million to
MicroStart SCRL, a leading microcredit provider in Belgium and in Europe, to
finance micro, small and medium-sized enterprises (MSMEs). MicroStart SCRL
hopes to generate between 1000 and 1200 microloans per year financing the
projects of self-employed entrepreneurs, primarily migrants and unemployed,
which will promote job creation in Belgium.
Czech Republic: € 50 million to Česká spořitelna, a.s., one of the main financial institutions of the country. As a bank of local financing with a network of over 630 branches, it has great potential for identifying investment projects undertaken by Czech municipalities and joint enterprises (public-private). CEB funds will be used to modernise public infrastructure and improve its accessibility, and also to protect the environment through cleaner and more reliable public transport.
France: € 100 million to
Crédit Coopératif to support the not-for-profit sector, which is an integral
part of the social economy and plays a crucial role in the medical-social and
educational field. The CEB loan will be used to strengthen the long-term
resources of public interest entities for projects benefiting the elderly,
persons with disabilities, and vulnerable children, young people and adults.
Montenegro: € 10 million to the
government in order to support its efforts to increase the availability of
affordable housing. In the context of a new law on social housing approved by
the government, the CEB loan will be used for a programme of subsidised
mortgages expected to provide about 500 vulnerable and low- or medium-income
families with access to housing.
Slovak
Republic: € 15 million to the
self-governing region of Trnava to co-finance investments in urban and rural
modernisation, the protection of the environment, and the rehabilitation of the
historical heritage. This long-term financing is intended to cover local needs but
will also serve, if necessary, as a short-term bridge loan to speed up the
completion of projects financed through European structural funds.
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook stable and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.
Contact
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Konstantin Doulamis / Jelica Vesic
External Affairs / Communication
+33 1 47 55 55 00