CEB approves € 100 million loan to Crédit Agricole for social investments in France
22 January 2016
PARIS - The Council of Europe Development Bank (CEB) approved today a € 100 million loan to Crédit Agricole to support social projects run by not-for-profit associations in the fields of health and education.
Crédit Agricole is an important player in the French social economy. Through its network of 39 regional banks across France, it finances projects which address the shortage of social and medical facilities, particularly for persons with disabilities. It also provides financing for investments in educational institutions.
The final beneficiaries of the CEB loan will be vulnerable population groups such as persons with disabilities, persons in a state of dependency or ill health, and children, youth and adults in need of training. The focus will be on the provision of care, assistance, education and vocational training through the construction or refurbishment of training centres, education facilities and nursing homes.
CEB Governor Rolf Wenzel said: “The Bank attaches special importance to social projects aiming at the improvement of public infrastructure. The loan approved today will be used for projects in education and health, and we are pleased to work with Crédit Agricole to support vulnerable persons in France.”
The medico-social sector in France comprises about 35 000 institutions providing services to persons with disabilities and persons experiencing difficulties of all age groups: from toddlers, children and teenagers to adults and the elderly.
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.