News
CEB approves €180 million loans to support vulnerable groups in France
2 February 2017
PARIS – The Council of Europe Development Bank (CEB) has approved two loans for a total of € 180 million to support vulnerable population groups in France, such as migrants and refugees, asylum-seekers, displaced persons, the elderly, and persons with disabilities.
The first loan of € 80 million to Société Générale will support social projects undertaken by not-for-profit associations in the field of health as well as in education and vocational training.
Société Générale is a key institution in the French social economy. The programme financed by the CEB will channel financing to organisations which provide shelter to vulnerable persons, such as elderly persons in a state of dependency or poor health, persons with disabilities, and youth alienated from their families, and also support their reintegration into professional life or education.
The second loan of € 100 million is to property investment company Hémisphère to provide, through Adoma, emergency accommodation and reception facilities for asylum-seekers. The operation, which is part of the French government’s plan to provide housing and support to homeless persons, refugees and asylum-seekers, aims to deliver over 10,000 places.
Specifically, the CEB loan will contribute to the acquisition and renovation of hotels to create emergency accommodation as well as to the provision of social support adapted to the needs of the groups concerned. Guidance will be given in terms of referral for long-term accommodation, seeking employment, health monitoring, children’s education, and accessing the National Reception Scheme for asylum-seekers.
The programme will draw on Adoma’s experience in social housing, the leading French provider of supported housing and a subsidiary of the Group SNI. It is expected to make a significant contribution to the French government’s plan to fight poverty and promote social inclusion. This is the second CEB loan to Adoma, the first loan agreement having been signed in November 2015.
CEB Governor Rolf Wenzel said: “Providing aid to vulnerable persons is one of the core activities of the Bank and an area in which we have been active for 60 years. These two loans reaffirm our strong commitment to supporting all our member countries’ social policies benefitting the most disadvantaged population groups. The emphasis is on areas which are crucial for ensuring a decent standard of life, such as housing, health and education. We are pleased to be cooperating with Société Générale and Adoma to promote social inclusion in the CEB’s host country France.”
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.