News
CEB Administrative Council approves three new projects
19 March 2015
PARIS - Today, at its 292nd meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved three new loan requests totalling € 550 million.
Belgium: € 200 million to Vlaamse Maatschappij voor Sociaal Wonen (VMSW) to help finance approximately 6 100 mortgages for low-income families. Established in 2006 and headquartered in Brussels, VMSW is the social housing agency for the Belgian region of Flanders. It carries out the Flemish government’s policies in the areas of urban planning, housing and property assets.
Poland: € 50 million to Pekao Leasing Sp. zoo to finance the investments of micro, small and medium-sized enterprises (MSMEs) in order to strengthen their competitiveness and help create permanent or seasonal jobs. Established in 1995 and headquartered in Warsaw, Pekao Leasing is the leasing subsidiary of Bank Pekao SA, Poland’s second largest banking group. It grants leases to Polish MSMEs for the acquisition of productive equipment.
Slovak Republic: € 300 million to the Government in the form of a European Co-financing facility to finance the implementation of investment programmes aimed at boosting economic growth and aligning the Slovak economy with European socio-economic standards.
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.