€ 100 million loan agreement between Skandinaviska Enskilda Banken and the CEB to finance social sector investments in the Baltic States
18 March 2008
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.