The social development bank for Europe
CEB approves € 300 million loan to Germany to support migrants, refugees and displaced persons
21 June 2016
PARIS – The Council of Europe Development Bank (CEB) has approved a € 300 million loan to Investitionsbank des Landes Brandenburg (ILB) to finance social housing projects for vulnerable population groups, including migrants, and the modernisation of urban and rural areas.
The € 300 million CEB loan to ILB will be used for the construction of new rental housing and the renovation and modernisation of existing facilities in areas of Brandenburg identified as priority zones. The CEB funds will also be used for the refurbishment of infrastructure, such as schools, local roads and public transportation.
ILB is an implementing partner of the State of Brandenburg, the government of which has made the promotion of affordable housing a key priority, as a way of dealing with migration pressure, demographic changes and an ageing population.
The beneficiaries of the social housing projects in Brandenburg will be households who have difficulty accessing the free market, including migrants and refugees and their families, persons with disabilities, elderly persons, and families with at least one minor.The CEB loan will make an important contribution to the integration of migrants and refugees, the reduction of social disparities both within the State of Brandenburg and in relation to neighbouring states, and the creation of new jobs in the region.
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.