News
CEB approves financing for new social projects
17 November 2016
Paris - Today, at its 300th meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved four new loans worth close to € 160 million. This brings the total amount approved for this year to almost € 3.5 billion, which represents an increase of 50% compared with 2015.
Germany: a € 72 million loan to Investitions- und Förderbank des Landes Niedersachsen (NBank) to finance one of NBank’s social housing programmes in Lower Saxony. The Federal State of Lower Saxony, which is the fourth most populous in Germany, received almost 10% of the refugees who have arrived in Germany since 2015. NBank has developed a social housing programme for low-income persons, including refugees. The CEB funds will finance the construction of new rental housing, renovation of existing dwellings, and energy efficiency improvements to rented units.
Hungary: a € 16.6 million loan to the government to
support through a European Co-financing Facility the operational programme “Supporting
People in Deprivation” for the period 2014-2020. The loan will help Hungary to address
major social imbalances which have a negative impact on the health, well-being
and social inclusion of the most vulnerable groups. The programme financed by
the CEB is aimed at assisting poor families with children, low-income elderly, homeless,
and persons with disabilities.
Poland: a € 50 million loan to Europejski Fundusz
Leasingowy S.A. (EFL), a leading Polish leasing company, to co-finance the
investments of small and medium-sized enterprises (SMEs) in order to boost
their competitiveness and contribute to the creation of new jobs. Leasing
companies are particularly efficient when it comes to channelling funds to
small businesses with limited access to credit. The CEB funds will contribute
to the acquisition of productive equipment such as commercial vehicles,
machinery, IT and office equipment.
Slovak Republic: a € 20 million loan to Československá obchodná banka, a.s. (CSOB SK), the
country’s fourth largest bank, to provide funding for micro, small and medium-sized
enterprises (MSMEs). At a time when the unemployment rate in the Slovak
Republic remains high at 9.5%, the MSME sector makes an important contribution
to job creation and preservation. CEB funds will finance the productive
investments of an estimated 100 small businesses through CSOB SK’s network of
127 branches located throughout the country. The programme is expected to have
a positive impact on employment in the Slovak Republic.
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.