Administrative Council approves five new loans

These new loans will mostly finance projects aimed at improving environmental conditions and energy efficiency in the housing sector. One loan will finance reception centres for migrants and refugees. With these new projects, the total amount approved so far this year stands at € 2.12 billion.

Greece: € 2 million to the North Aegean Region to finance reception centres for migrants and refugees, who have been arriving in Greece in unprecedented numbers. The island of Lesbos in the North Aegean Sea has become one of the main entry points into Europe for persons fleeing war, an estimated 75% of whom come from Syria and are eligible to apply for asylum. Thanks to CEB financing this project, which was initiated by the North Aegean Region, will enable the opening of two reception centres with a capacity to host 60 adults and 40 unaccompanied children each. Given the particularly high social added value of the project, the CEB has decided to guarantee the loan by using its Social Dividend Account.

Latvia: € 50 million to JSC Attīstības finanšu institūcija ALTUM, to co-finance the renovation of residential buildings in order to increase their energy efficiency. 95% of these were built before 1993 and no longer meet European requirements. Latvia is currently focusing its efforts on reducing energy consumption and CO2 emissions. CEB involvement in this project will significantly improve the living conditions of the Latvian population.

Poland: € 300 million to the government to reinforce flood protection structures in the river basins of the Oder and the Vistula, which cover 98% of Polish territory. This project will increase the level of protection of urban centres and industrial zones, and will improve the safety of millions of persons living in areas prone to flooding.

Slovak Republic: € 49.5 million to Žilina Self-Governing Region to finance the revitalisation and modernisation of urban infrastructure in the areas of health and the protection of the environment. Almost 700,000 persons, or 13% of the entire population, will benefit from this project. This is the first time that the CEB provides direct financing to a region of the Slovak Republic.

Czech Republic: € 50 million to Komerční banka, a.s., which, through its vast network of almost 400 branches, channels financing to some of the least privileged municipalities and regions of the country. CEB funds will be used for the revitalisation and modernisation of public infrastructure and also for investments aiming to improve energy efficiency while reducing costs.