CEB approves financing for new social projects
14 March 2019
PARIS – At its meeting held in Paris today, the Administrative Council of the Council of Europe Development Bank (CEB) approved six new loans for a total amount of €732 million. These bring the total amount approved so far this year to over €1.8 billion in less than three months, which represents a strong start to 2019.
Bosnia-Herzegovina: an €11 million loan to the government to finance the construction of two psychiatric clinics and the rehabilitation of four, including improvements in terms of energy efficiency and accessibility for persons with disabilities. The project will benefit medical staff and the thousands of patients who use the facilities each year.
Croatia: a €200 million loan to the Croatian Bank for Reconstruction and Development (HBOR) to finance the development of social infrastructure and provide support to micro, small and medium-sized enterprises (MSMEs). More specifically, the CEB funds will enable MSMEs to access cost-effective financing for their productive investments, thus strengthening their competitiveness and contributing to the creation and preservation of viable jobs.
France: a €21 million loan to Institut Pasteur de Lille, a major medical, research and scientific centre in the Hauts-de-France region. The funds provided by the CEB will finance the comprehensive rehabilitation of facilities as part of the “New Campus Pasteur Lille” project, aimed at enhancing the functionality, technical coherence, and appearance of the campus.
Romania: a €150 million loan to UniCredit Leasing Corporation IFN to finance its leasing operations with MSMEs, which are a major contributor to employment, representing about two-thirds of all jobs in the country. The funds provided by the CEB will facilitate MSME access to affordable financing for their productive investments, which will strengthen their competitiveness and promote job creation and preservation.
Spain: a €150 million loan to Junta de Comunidades de Castilla la Mancha to support social development in the region while also ensuring the smooth implementation of European Union funds in SME financing and the agricultural sector. The funds will support public and private entities benefiting from EU Funds, such as public-owned enterprises, city councils, non-profit organisations, MSMEs, and the citizens of the region at large.
Sweden: a €200 million loan to the City of Stockholm to financeinvestments in the area of education and professional training. More specifically, the CEB funds will finance the construction of new educational facilities and the renovation and extension of existing ones in the Swedish capital, particularly in areas with a high number of migrants, benefiting a large number of students and staff.
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 (AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, 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.