CEB approves financing for eleven social projects

15 June 2018

BRATISLAVA – Today, at its meeting held in Bratislava, the Administrative Council of the Council of Europe Development Bank (CEB) approved eleven loans worth a total of almost €900 million. 

Finland: a €60 million loan to the City of Vantaa, in addition to an existing loan to the city. The additional funds provided by the CEB will contribute to the financing of investments in health and social services, services for the elderly as well as the construction of new buildings. 

Italy: a €7 million loan to Permicro SPA, the leading microcredit provider in Italy, to support its lending activity. The CEB loan will contribute to promoting financial inclusion through boosting job creation and will improve access to financing for vulnerable groups, particularly migrants and refugees who have limited or no access to formal banking services. 

Republic of Moldova: a €12 million loan to the Government to finance the modernisation of the stock of ambulance vehicles of the National Centre for Pre-Hospital Emergency Care (NCPHEC). The loan will improve emergency access to hospital services, benefiting the inhabitants of isolated rural areas who are in need of modern, accessible emergency assistance. 

Poland: a €67 million loan to the Region of Podlachia to finance regional investments in ecological sustainability (regional public transport) and the modernisation of its health infrastructure. These investments are expected to have a positive impact on the long-term economic situation of the region and to stimulate job growth. 

Poland: a €150 million loan to Pekao Leasing, to provide financing for eligible investments undertaken by micro, small and medium-sized enterprises (MSMEs). The objective is to contribute to the creation of permanent and seasonal jobs by strengthening the competitiveness of Polish MSMEs. 

Portugal: a €45 million loan to Empresa de Desenvolvimento e Infra-estruturas do Alqueva (EDIA), to finance the installation of ten floating solar plants. The project financed by the CEB is expected to reduce energy costs and diminish the environmental footprint of EDIA irrigation systems. It is expected to benefit the farmers using EDIA irrigation systems and the Portuguese population at large. 

Portugal: a €100 million loan to Instituição Financeira de Desenvolvimento (IFD) to provide financing to MSMEs throughout the country for their productive investments. The aim is to support their sustainability, energy efficiency and growth, thereby promoting job creation and preservation. The CEB loan will strengthen social and economic cohesion and reduce the income gap between urban and rural areas. 

Romania: a €2 million loan to the Roma Education Fund (REF) to provide bridge-financing for education programmes that it is implementing, aimed at improving Roma access to quality education and reducing or preventing early school dropout of Roma students in Romania. It is expected that around 4,000 persons will directly benefit from the programme. 

Slovak Republic: a €50 million loan to Bratislava Water Company to co-finance its long-term investments in water production and distribution as well as in the collection and treatment of wastewater in order to help the country reach its water quality targets. The project will benefit the inhabitants of three regions, which make up 13% of the country’s population. 

Spain: a €200 million loan to Banco Santander to assist the Spanish government in reaching its objectives for “Europe 2020” by financing the construction of renewable energy power plants. In addition to its positive impact on the environment, the project financed by the CEB will directly and indirectly create new jobs. 

Spain: a €200 million loan to Comunidad Autónoma de Madrid to contribute to government public spending on social programmes aimed at improving social cohesion. Benefiting from this loan will be the inhabitants of the Community of Madrid, especially vulnerable groups such as elderly persons, persons with disabilities, and the homeless.

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 positive 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.