News
CEB Administrative Council approves new projects
19 September 2014
PARIS - Today, at its 289th meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved five new loans worth a total of € 225 million.
Croatia – € 40 million to the Government for flood prevention measures targeting specifically the populations living in the Danube River Basin and in the Adriatic Basin.
Finland – € 60 million to the City of Vantaa for the construction or renovation of public infrastructures in the areas of health, care for the elderly, education and vocational training.
Republic of Moldova – € 10 million to ProCredit Bank SA, Moldova, to finance micro, small and medium-sized enterprises in order to promote job creation and preservation, strengthen competitiveness, and foster the emergence of new businesses.
Portugal – € 15 million to Instituto da Habitação e da Reabilitação Urbana for urban renewal, particularly of buildings more than 30 years old, in order to modernise Portuguese city centres and enhance the living standards of their inhabitants.
Czech Republic – € 100 million to Komerční banka, a.s. for investments by Czech municipalities and public-private enterprises aimed at improving living conditions in urban and rural areas, modernising public infrastructures and reinforcing environmental protection.
These new projects bring the total amount approved so far this year to € 1,486 million. 72% of that amount has been for the benefit of 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.