CEB approves financing for new social projects
28 September 2018
PARIS – During its session held today, the Administration Council of the Council of Europe Development Bank (CEB) approved nine new loans totalling almost € 600 million.
Bosnia and Herzegovina: a € 2 million loan to the MI-BOSPO Microcredit Foundation to provide financing to micro-businesses for their productive investments. MI-BOSPO works primarily with micro- or small enterprises run by women who often have no stable revenue. The CEB loan will support the financial inclusion of women and improve their living conditions. Part of the funds will be used to provide financing to low-income households and farmers.
Croatia: a € 50 million loan to the Croatian Bank for Reconstruction and Development (HBOR) to finance the construction of key infrastructure for the Rijeka Clinical Hospital (KBCRi), one of Croatia’s five clinical hospitals. The CEB will finance the second phase of the construction of the “Mother and Child” hospital as well as ancillary technical facilities.
Finland: a € 50 million loan to the city of Kuopio, which is among the ten largest cities in the country with a population which has grown significantly in recent times. The CEB funds will finance the construction, renovation and extension of municipal infrastructure and are expected to benefit the wider community of Kuopio.
France: a € 42 million loan to the Centre européen de recherche et de développement en hadronthérapie (Cyclhad) to finance a programme aimed at establishing in Normandy a research and treatment centre for hadrontherapy, a form of radiotherapy used for the treatment of many types of inoperable cancer. The programme involves the design, manufacturing and development of the Hadrontherapy Research and Treatment System, which will be operated by Cyclhad.
- a € 50 million loan to Thüringer Aufbaubank (TAB) to support social development in Thuringia. The funds will be used for the financing of an urban and rural modernisation programme, energy efficiency projects, including the installation of LED public lighting, and the provision of funds to micro, small and medium-sized enterprises (MSMEs).
- € 200 million loan to NRW Bank to support social investments in North Rhine-Westphalia. The funds will be used for the renovation, modernisation and extension of state school facilities and will benefit a large number of pupils and teaching staff.
- a € 120 million loan to BZ WBK Leasing to provide financing to Polish MSMEs for their productive investments. The loan will strengthen the competitiveness of small businesses and contribute to the creation and preservation of permanent and seasonal jobs.
- a € 43 million loan to the Region of Subcarpathia to finance social investments in public transport and in the health sector, including the construction of a regional oncology centre in the city of Tarnobrzeg. The CEB funds will improve public infrastructure and enhance the living conditions of the local population.
- a € 37 million to the Region of Pomerania to support investments in public infrastructure, including improvements to the road network and health facilities. The CEB loan will benefit Pomerania’s 2.3 million inhabitants, boost development in the region, and reduce socio-economic disparities.
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.