CEB approves a € 10 million loan to San Marino for key investments in public healthcare
7 July 2020
PARIS – The Council of Europe Development Bank (CEB) has approved a€ 10 million loan to San Marino to support the Government’s efforts to adequately respond to the COVID-19 pandemic.
Prior to the COVID-19 outbreak, public emergency healthcare in San Marino relied on a single state hospital with six intensive care unit (ICU) beds and a patient referral system with the neighbouring regions of Emilia Romagna and Marche in Italy. The hospital did not have an infectious disease department. The pandemic greatly challenged in-country and cross-border capacities and forced the Government, through the Institute of Social Security, to reorganise the existing hospital.
The CEB loan will support the further reorganisation of the public hospital and the purchase of additional medical and pharmaceutical equipment, supplies, and consumables. San Marino’s hospitalisation capacity will thus improve to 20 ICU and 70 coronavirus-dedicated beds, while medical supplies, such as diagnostic tests, will help with containing another potential outbreak. In addition, the loan will cover disinfection services and costs incurred to isolate wards, as a result of the new hospital set-up.
CEB Governor Rolf Wenzel said: “We are pleased to be able to help San Marino to respond to the ongoing health crisis and to make their public health system more resilient when faced with similar emergencies. In line with the CEB’s mandate, the investments will protect the most vulnerable, such as the elderly and the people with previous pathologies, will mitigate the risk of another outbreak, and will thus contribute to the country’s economic recovery.”
San Marino joined the CEB in April 1989. The present loan is the first to be approved by the Bank since 1998. San Marino has contributed grant resources to the CEB’s Migrant and Refugee Fund. More information is available here.
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 (AA+ with Fitch Ratings, outlook positive, AAA with Standard & Poor's, outlook stable and Aa1 with Moody's, 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.