CEB approves € 12 million loan for regional development in the Slovak Republic
21 March 2017
PARIS - The Council of Europe Development Bank (CEB) approved a € 12 million loan to the Trnava Self-governing Region, in the Slovak Republic, in order to support a range of investments contributing to a more balanced regional development.
Being one of Europe’s most dynamic economies, the Slovak Republic is also characterised by important regional differences in terms of income, unemployment and infrastructure. The CEB funding will make a contribution to improving the living conditions of more than half a million inhabitants of the Trnava region.
The CEB loan will co-finance investments in reconstruction of roads and bridges, road surface repairs and the purchase of maintenance equipment, contributing to increased road safety. It will also provide bridge-financing for projects funded by the European Structural and Investment Funds in three sectors: modernisation of urban and rural areas, protection of cultural heritage, and protection of the environment.
The approved loan builds on an existing cooperation with the Trnava Self-governing Region, which benefited from a € 15 million loan from the CEB in 2015.Thanks to its flexible financial instruments, the CEB is an attractive partner for regions in the Slovak Republic looking to diversify sources of funding for their public investments. In addition to the two loans to Trnava Self-governing Region, the CEB also approved a € 49.5 million loan to Žilina Self-governing Region in 2015 and a €13 million loan to Trenčín Self-governing Region in 2016.
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.