CEB administrative council approves seven new loan requests

12 June 2015

BERLIN - Today, at its 293^rd meeting held in Berlin, the Administrative Council of the Council of Europe Development Bank (CEB) approved seven new loan requests totalling €858 million. Two-thirds of this amount will benefit CEB target group countries.

Bulgaria: €150 million to state-owned Bulgarian Development Bank to finance the renovation of housing units built between 1960 and 1989, whose structure and energy efficiency require urgent attention. The project will contribute to improving the living conditions of the local population.

France: €100 million to Adoma, formerly known as “Sonacotra”, a leading landlord for supported housing in France with a social mission benefiting people who have difficulty finding accommodation. The programme financed by the CEB will help retired migrant workers to stay in their own homes and will provide housing solutions to asylum-seekers, homeless persons and Travellers.

Ireland: €150 million to Housing Finance Agency, operating under the auspices of the Ministry for the Environment. The loan will provide financing to housing organisations and local housing authorities for the renovation of rented social housing units and the construction of new, energy-efficient social dwellings.

Ireland: €83 million to a public-private partnership under the auspices of the Ministry of Justice. The loan will finance the renovation of seven courthouses in Ireland to ensure that they meet the demands of a modern judiciary and provide efficient administration with respect for human rights and human dignity.

Poland: €100 million to Bank Pekao S.A., the second largest bank in Poland and a leading institution in the area of financing for micro, small and medium-sized enterprises (MSMEs). The loan will finance investments made by MSMEs, in particular those promoting job creation and entrepreneurship, which are key to sustainable economic growth.

Romania: €175 million to the Government to finance the construction of new social housing units and the refurbishment of existing dwellings for 10 500 young persons. This will facilitate the mobility of young professionals within Romania and restrict migration to other countries.

Slovak Republic: €100 million to CSOB Leasing a.s. specialising in financial support for MSMEs. The loan will finance the investments of MSMEs throughout the country, including public infrastructure modernisation projects and the rehabilitation of healthcare centres.

These new projects bring the total amount approved so far this year to €1.67 billion. Almost 60% of this amount is for the Bank’s target group countries.

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.