CEB approves financing for six new social projects
26 January 2018
PARIS - Today, at its first meeting for 2018, the Administrative Council of the Council of Europe Development Bank (CEB) approved six new loans worth almost € 635 million.
Bosnia and Herzegovina: a € 2.5 million loan to Partner Microcredit Foundation to provide financing to households, micro-businesses and farmers for energy efficiency projects, including the thermal insulation of buildings and the installation of more efficient heating systems. The CEB funds will fill the gap of financial support to low-income persons who wish to make energy efficiency improvements to their dwellings, help them reduce energy consumption and improve their living conditions.
Czech Republic: a € 100 million loan to Unicredit Leasing CZ to support employment in the country through the partial financing of productive investments in MSMEs. The CEB funds will also be used for the modernisation of public infrastructure, mainly public transport, by supporting investments undertaken by local and regional authorities, mixed (public and private) entities, and private companies providing public services.
Germany: a € 50 million loan to Investitions-und Förderbank Niedersachsen (NBank) to finance urban and rural development in Lower Saxony, in response to demographic changes in the area due to immigration. Refugees and asylum-seekers who have arrived since 2015 today make up 1.8% of the population of Lower Saxony, and the number of new arrivals remains high.
Hungary: a € 92 million loan to the government to part-finance the renovation and expansion of the University of Physical Education in Budapest and the University of Pécs. The CEB funds will contribute to government plans to enhance its higher education system, make it more accessible to local students and attract more foreign students. It is expected that a total of over 22 000 students and 1 300 professors and researchers will benefit from the renovation of the two institutions.
Italy: a € 290 million loan to the Cassa Depositi e Prestiti (CDP), Italy’s National Promotional Institution, to support its ‘Plafond Beni Strumentali’ apex facility and channel financing to micro, small and medium-sized enterprises (MSMEs). The CEB funds will enable MSMEs to access financing for their productive investments, thus strengthening their competitiveness and promoting job creation and preservation in a country where MSMEs cover 80% of the total number of persons employed.
Netherlands: a € 100 million loan to the National Energy Saving Fund Foundation (NEF) to finance energy efficiency improvements to residential properties. The built environment accounts for 30% of the country’s total energy consumption, so the programme financed by the CEB will contribute to the Dutch government’s target for energy savings.
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.