News

A CEB loan to KfW under the aegis of tripartite cooperation with the European Union for municipal investment projects in Albania, Bosnia and Herzegovina, and Serbia

16 December 2009

PARIS - Mr Haas and Mr Gross of Kreditanstalt für Wierderaufbau (KfW), and Mr. Ruiz-Ligero, Vice-Governor of the CEB signed a loan contract worth 28.5 million euros.

The CEB loan to KfW is intended to finance infrastructure projects related to the tripartite Municipal Window of the Infrastructure Project Facility (IPF-MW) set up by the European Commission within the framework of the European Commission’s Instrument of Pre-Accession (IPA).

The investments concerned will involve the renovation of the water and sanitation systems of various municipalities in Albania, Bosnia and Herzegovina, and Serbia.  The local inhabitant should thus enjoy better conditions of hygiene and a more favourable context for the development of the local economy. 

Created in 1948, KfW acts on behalf of the Federal Government of Germany, which exercises ultimate authority. Functioning as a corporation under public law, its statutory functions are to promote the Germany economy and to foster development in the transition countries to which it grants long-term loans at advantageous rates.

Since the beginning of its cooperation with the CEB in 1988, 7 projects have been approved with KfW in favour of the target group countries for an accumulated amount of 625 million euros.