News
CEB and Slovenia’s SID Banka discuss a new loan for infrastructure, energy efficiency and environment
25 October 2021
Ljubljana - The Governor of the Council of Europe Development Bank (CEB), Rolf Wenzel, and Vice-Governor Tomáš Boček today met with representatives of the Slovene Export and Development Bank (SID Banka) to finalise a new loan worth €50 million, which is expected to be approved by the end of the year.
Governor Wenzel and Sibil Svilan, CEO and President of the Management Board of SID Banka, explained that the new loan would be used to co-finance municipal projects in the field of infrastructure, energy efficiency and the environment, thus contributing to sustainable development throughout the country.
The CEB had previously approved two loans to SID Banka to improve living conditions in urban and rural areas, enhance energy efficiency, and protect the environment throughout the country. The first one worth €40 million was approved in 2010, while the second one worth €50 million was approved in 2017.
“We highly appreciate the long-standing and dynamic cooperation with SID Banka, which has resulted in significant social and environmental outcomes throughout Slovenia,” Governor Wenzel said. “Given the current needs and plans to reinforce the country’s economic and social resilience it is important that we continue our cooperation to further encourage country-wide investments, enable sustainable economic growth, provide better access to quality public services, and improve the living conditions of all citizens.”
The new loan from the CEB will help SID Banka implement its new development and incentive programme intended for municipalities and municipal public companies to finance projects that will improve their infrastructure, energy efficiency and contribute to sustainable development.
“SID Banka, with CEB funds under the leadership of Governor Wenzel, enabled numerous infrastructure projects in Slovenian municipalities, especially the construction and renovation of schools and kindergartens, as well as gyms and health infrastructure,” noted Mr Svilan. “We also financed projects for water supply, sewerage and public roads. These projects and the aforementioned good cooperation between the two banks are crucial for the sustainable development of Slovenia, as only such long-term and favourable sources of financing enable the successful implementation of public infrastructure projects.”
“SID Banka is our long-standing partner in Slovenia,” added CEB Vice-Governor Tomáš Boček. “We work together to strengthen our partnership to better respond to the priorities set in the Slovenian Development Strategy 2030. We are conscious that the improvement of social infrastructure and continued availability of long-term financing to the municipalities remain essential for the recovery from Covid-19, economic growth and employment.”
Slovenia
Slovenia became a CEB member country in 1994. In the past 15 years the CEB supported inclusive growth in Slovenia with €170 million in investments across different sectors, such as social and affordable housing, environment, education, and municipal infrastructure.
Set up in 1956, the CEB (Council of Europe Development Bank) has 42 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, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook positive and AAA* with Scope 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.
*unsolicited