News
CEB approves € 100 million loan to Crédit Coopératif to support social investments
05 November 2015
Crédit Coopératif is a major player in the French social and solidarity-based economy. Through its 70 branches across the country, it provides financing to non-profit organisations serving the needs of persons who are made vulnerable by their economic situation, disability or age.
The beneficiaries of the CEB funds will be disadvantaged population groups such as the elderly, persons with disabilities, persons in a state of dependency or ill health, children, young people and adults in a precarious situation. The focus will be on the provision of care, assistance, education and vocational training.
CEB Governor Rolf Wenzel said: “I am pleased that the financing approved for Crédit Coopératif will be used for social projects covering several interrelated sectors. The funds will make an important contribution to supporting vulnerable populations in France.”
Recognising the importance of actively supporting public interest entities, the CEB has approved a total of € 500 million in financing to Crédit Coopératif since 2007. The funds have been earmarked for public infrastructure projects aiming to improve the quality of life in urban and rural areas, health, education and environmental protection in France.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.