News
CEB approves new loans for social projects
17 March 2016
PARIS - Today, at its 297th meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved ten new loans worth a total of almost € 1.2 billion.
Germany: a € 230 million loan to WI Bank to finance municipal investments in 447 towns of the federal state of Hesse. The funds will be used for investments in the area of social rented housing for low-income persons, migrant families, persons with disabilities, and unemployed persons with financial difficulties.
Spain: a € 9 million loan to CaixaBank to finance the construction of the new research institute of Sant Pau Hospital in Barcelona. This project will create better working conditions for the Institute’s researchers. In addition, a € 300 million loan to Instituto de Crédito Oficial to channel financing to MSMEs for the acquisition of premises and equipment. The project will contribute to the creation of new seasonal and permanent jobs.
France: a € 200 million loan to Ville de Paris for investments in education infrastructure and to finance the construction and renovation of reception centres for migrants and refugees in order to facilitate their integration into society.
Georgia: a € 2.5 million loan to LLC MFO Credo, a leading institution in the microfinance sector in Georgia, to finance the investments of micro, small and medium-sized enterprises (MSMEs) in order to encourage income-generating activity and boost entrepreneurship. Also, a € 14 million loan to the Government to finance the rehabilitation of public schools in Tbilisi. This will enhance significantly the energy efficiency of the buildings and improve the learning environment of around 15 000 children.
Netherlands: a € 100 million loan to Coöperatieve Rabobank U.A. to partially fund its “Social Impact Loan” instrument, aiming to facilitate MSME access to financing and incentivise small businesses to generate social and environmental added value.
Poland: a € 100 million loan to Bank Zachodni WBK SA, the third largest bank in Poland, to finance the investments of MSMEs in order to help them enhance their competitiveness and support the creation of new jobs. In addition, a € 150 million loan to Bank PEKAO SA, a leading institution in public sector financing in Poland, to support the investments of local authorities in the modernisation of urban and rural public infrastructure and the protection of the environment.
Portugal: a € 80 million loan to the Government through the CEB’s EU Co-Financing Facility (ECF) in order to fund a programme aimed at the physical, economic and social regeneration of urban areas and the protection of the environment.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.