News
CEB and Kosovo sign €25 million loan to support investment in inclusive social housing
25 January 2024
PARIS - CEB Governor Carlo Monticelli and Minister of Finance, Labour and Transfers of the Republic of Kosovo Hekuran Murati signed today a €25 million loan agreement aimed at contributing to the creation of a more inclusive social housing system in the country.
The CEB’s loan will support a comprehensive Adequate Social Housing Programme for Kosovo, designed to significantly improve living conditions for vulnerable, marginalised, and low- to middle-income households across the country.
“CEB financing will help address critical housing needs of the most vulnerable groups in Kosovo. This is an important first step in the country’s efforts to establish a social housing system that leaves no one behind,” said Governor Carlo Monticelli.
“The fundamental goal of social housing is to secure decent accommodation for every citizen of Kosovo, with an emphasis on offering affordable housing for communities with lower incomes. This project serves to enhance overall well-being which is one of the main objectives of the Ministry of Finance, Labour and Transfers,” said Minister Murati.
The CEB loan will support two main types of investments, focusing on the development of public rental social housing – be it in new or existing buildings – as well as the improvement of private homes of low-income households, especially making them more energy-efficient.
The project is estimated to benefit approximately 2,000 socio-economically vulnerable households, with a particular focus on people with disabilities, members of non-majority communities, displaced persons, and unemployed youth. Furthermore, the initiative will specifically target women-headed households, addressing the needs of unemployed and low-income women, aiming to enhance financial independence for women in Kosovo.
The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.