News
CEB and Adoma confirm € 100 million loan agreement for social housing
22 September 2015
PARIS - The Council of
Europe Development Bank (CEB) and Adoma, the leading social housing provider in
France, confirmed today a €100 million loan agreement at the 76th
annual meeting of the USH (L'Union
sociale pour l'habitat) in Montpellier. The credit line had been approved
by the CEB’s Administrative Council at its 293rd meeting, held in
Berlin on 12 June 2015.
The programme
which the CEB finances will help retired migrant workers to stay in their homes
and will provide housing for asylum-seekers, homeless persons and Travellers.
Adoma (formerly known as Sonacotra), which is part of the Group SNI,
specialises in providing housing solutions to persons with difficulty securing
accommodation.
The CEB was represented at the USH meeting by its Vice-Governor Apolonio Ruiz-Ligero. Present at the meeting were also Sylvia Pinel, France’s Minister for Housing, André Yché, Chair of the Board of Directors of the Group SNI, Jean-Paul Clément, General Director of Adoma, Patrick Doutreligne, Chair of the Governing Board of Adoma, and Thierry Poirel, Director of Loans and Social Development at the CEB.
In his address, Vice-Governor Ruiz-Ligero underlined the social mandate of the CEB, the oldest development bank in Europe, and said that improving the living conditions of migrants and refugees had been at the heart of the CEB’s mission since its creation in 1956. “It is in the context of our ongoing efforts to advance social integration in Europe that we are supporting Adoma,” said Ruiz-Ligero, “and we are pleased to be contributing to the development of Adoma’s strategic plan for social housing with this €100 million loan.”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.