News
CEB Administrative Council approves new projects
23 January 2015
PARIS - Today, at its 291st meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved two new loans totalling € 260 million.
Spain: € 160 million to the autonomous community of Castilla y León to finance the modernisation of public health facilities covering a wide range of activities, from general medicine to specialised care and research. Investment in this area will help to reduce overcrowding in hospitals and improve access to healthcare.
Turkey: € 100 million to Türkiye İhracat Kredi Bankası A.Ş., also known as Türk Eximbank, to provide short- and medium-term financing to small and medium-sized enterprises (SMEs). CEB funds will enable Turkish SMEs to expand their production activity and maximise their export capacity, while also contributing to job creation.
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.