CEB and BNG Bank sign €300 million loan agreement for socially responsible investments in Dutch public sector
14 December 2017
The Hague – The Governor of the Council of Europe Development Bank (CEB) signed today a €300 million loan agreement with Bank Nederlandse Gemeenten (BNG) to finance socially responsible investments in the Dutch public sector.
The agreement was signed at the headquarters of BNG Bank in The Hague. The funds provided by the CEB will be used by BNG Bank to partially finance the construction or modernisation of, inter alia, municipal local infrastructure, social housing and healthcare facilities as well as energy efficiency investments across the Netherlands.“This loan reaffirms the CEB’s ongoing commitment to strengthening inclusive growth and social cohesion in Europe,” said CEB Governor Rolf Wenzel. “Social housing, education, and public infrastructure development, including energy efficiency measures, are among our priority areas of operation. We welcome this co-operation with BNG Bank, which will help to ensure that CEB funds have a high social impact in the Netherlands,” he continued.
“BNG Bank is a committed partner for a socially responsible society. Our goal is to support government policy at the lowest possible rates. Through this lending facility BNG Bank can give clients the opportunity to benefit from CEB financing. Therefore, this agreement is perfectly in line with the bank's strategy”, said Olivier Labe, member of BNG Bank's Executive Board.BNG Bank is a committed partner for a sustainable society. Based on its excellent ratings, it supports government policy by extending low-cost financing to, among others, municipalities, housing corporations and healthcare institutions. With a balance sheet of approximately € 150 billion, BNG Bank is the fourth largest bank in the Netherlands.
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 positive 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.