CEB approves financing for seven new social projects

29 September 2017

PARIS – Today, at its meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved seven new loans worth close to €1.3 billion. This brings the total amount approved for social projects so far this year to almost €3.5 billion.

Belgium: a €200 million loan to Belfius Bank in order to part-finance projects aimed at the construction and rehabilitation of public service infrastructure in the areas of education, health, and environmental protection. The funds will be allocated to end-beneficiaries by Belfius and its leasing subsidiaries.

Italy: a €350 million loan to Cassa Depositi e Prestiti Società per Azioni in order to finance modernisation, rehabilitation and reconstruction projects in earthquake-stricken areas. The projects will benefit individuals and companies affected by the earthquakes that hit central Italy between August 2016 and January 2017.

Netherlands: a €300 million loan to Bank Nederlandse Gemeenten (BNG) in order to finance the construction and modernisation of local infrastructure as well as social housing and energy efficiency improvement projects. The CEB loan will support the Dutch government’s policy to finance sustainable public housing projects.

Poland: a €100 million loan to Europejski Fundusz Leasingowy (EFL) in order to part-finance the investment projects of micro, small and medium-sized enterprises (MSMEs). By strengthening the competitiveness of small businesses, CEB funds will contribute to the creation and preservation of permanent and seasonal jobs.

Slovak Republic: a €100 million loan to UniCredit Leasing Slovakia in order to provide financing for the productive investments of MSMEs. CEB funds will also improve living conditions in urban and rural areas through the modernisation of public infrastructure.

Spain: a €59 million loan to Patronat Municipal de l’Habitatge de Barcelona to part-finance the construction of social housing for low-income persons in the Barcelona region. The CEB loan will help to improve the living conditions of inhabitants in the region.

Turkey: a €150 million loan to Türkiye İhracat Kredi Bankası, continuing the cooperation with Türk Eximbank which began in 2015. The CEB loan will provide exporting SMEs with access to mid-and long-term financing, thus facilitating the expansion of their productive activities while also boosting job creation.

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.