The social development bank in Europe

News

€ 100 million loan agreement between Skandinaviska Enskilda Banken and the CEB to finance social sector investments in the Baltic States

18 March 2008

PARIS - SEB [Skandinaviska Enskilda Banken AB (publ)] and the CEB today signed a loan agreement for an amount of € 100 million for the partial financing of investment projects in the fields of construction or modernisation of municipal infrastructure, creation and preservation of jobs in small and medium-sized enterprises, as well as in the field of social housing, in Estonia, Latvia and Lithuania.

This first loan to the SEB will allow CEB to work with local partner banks – SEB’s subsidiaries – in the Baltic States i.e. SEB Eesti Ühispank (Estonia), SEB Unibanka (Latvia) and SEB Vilniaus Bankas (Lithuania).

In line with the CEB's mission, the objective of the loan is to facilitate access to credit to Baltic local authorities as well as municipal companies, public utilities, public-private partnership or other public service providers, for the upgrading of local and regional infrastructure, with the ultimate aim of strengthening social cohesion and improving the quality of life of the inhabitants.

CEB’s loans can also be channelled to finance investment projects undertaken by small and medium-sized enterprises, to create or maintain jobs.

Finally, this loan facility will provide funding to investments in the field of social housing, notably for the renovation of multi-apartment buildings to improve their energy efficiency.