CEB approves seven new loans totalling €685 million

PARIS – The Council of Europe Development Bank (CEB) approved seven new loans totalling €685 million to strengthen resilience and social cohesion across Europe. These projects align with the CEB's core objectives of investing in people, enhancing human capital and promoting inclusive, resilient communities. The funds will support diverse sectors, including education and vocational training, social and affordable housing, urban, rural, and regional development, and the protection and rehabilitation of historic and cultural heritage.

“Among several interesting projects, I am keen to highlight the approval in record time of a loan to assist internally displaced persons in Ukraine, which confirms the Bank’s commitment to support the recovery of the country,” CEB Governor Carlo Monticelli said.

ESTONIA: A €60 million loan to the University of Tartu will modernise facilities for nearly 15,000 students and 4,300 staff. The funding will support the construction of a new academic and research building and the renovation of two existing facilities, including improvements in functionality and energy efficiency. The CEB loan will strengthen the University's position as a hub for interdisciplinary research and international collaboration, widen educational access and equip students with future-ready skills, fostering economic growth and contribution to social progress across Europe.

FRANCE: An additional loan of €150 million to Métropole Aix-Marseille-Provence (AMP) will support the Nouveau Métro de Marseille (New Metro of Marseille, NEOMMA) programme to modernise Marseille’s metro system. Ensuring a reliable public transport system is crucial to boosting the area's economic attractiveness, improving residents' access to key urban services and enhancing connectivity for currently underserved neighbourhoods. The investments will support equitable and accessible transport options that help address AMP's social disparities and territorial inequalities while meeting the needs of Marseille’s growing population and promoting sustainable and inclusive socioeconomic development.

ITALY: A €75 million loan to Istituto per il Credito Sportivo e Culturale (ICSC) will help fund local investment in sports and community facilities, promoting sustainable and inclusive growth. In an effort to increase the social impact of its activities, ICSC launched its proprietary platform tool in 2023 to assess community vulnerabilities and target interventions that enhance health, accessibility, engagement and, ultimately, social cohesion in cities and small towns across the country. The programme is expected to benefit around 15 million inhabitants, including vulnerable groups such as young people, the elderly and people with disabilities. Since 2018, the CEB has approved three loans totalling €320 million in favour of the ICSC.

LATVIA: A €40 million loan to Rīgas Siltums AS, Riga’s main district heating provider, will enhance heating reliability and sustainability in the city. The funding supports replacing old pipes, expanding the network to underserved areas and upgrading technology to improve efficiency. These improvements are expected to reduce energy consumption, CO2 emissions and costs, benefiting Riga’s residents with reliable, affordable heating supply.

ROMANIA: A €140 million loan to Romania will help fund the renovation and construction of 14 cultural and heritage sites, including measures to address seismic risks. Romania's cultural heritage is rich and diverse, with over 50 UNESCO World Heritage sites and some 30,000 listed historical monuments. The project aims to support economic development and cultural regeneration as well as enhance the living environment, particularly in less developed regions.

SLOVENIA: A €20 million loan to the Slovenian Pension Real Estate Fund will help finance 220 cost-effective, assisted housing units for approximately 300 elderly residents, supporting dignified and stable living conditions for Slovenia’s aging population. Current care facilities are unable to meet the growing demand in the country. The CEB’s support will enable the Fund to focus on providing long-term stability, addressing economic vulnerability and ensuring access to financing for older people, especially women, who are disproportionately affected by income inequality. This is the CEB’s first partnership with the Fund, building on the Bank's long-standing commitment to Slovenia’s housing sector.

UKRAINE: A €200 million loan to Ukraine will support government efforts to assist internally displaced persons (IDPs) and ease fiscal pressure. The funds will provide living assistance to vulnerable IDPs facing housing, employment and service access challenges, with many unable to return home due to ongoing conflict. The Government of Ukraine currently aids around 1.2 million IDPs through various social assistance and livelihood support systems. This loan, developed in close cooperation with the Ukrainian authorities, is the CEB's third sovereign operation in Ukraine since the country officially joined the CEB in 2023, bringing total approvals for Ukraine to €400 million.

During the November 2024 Administrative Council meeting, the CEB also approved a name change for its Social Dividend Account (SDA), which is financed from allocations from the Bank’s annual profit and is used to support highly social-impact CEB projects, i.e. those that target disadvantaged population groups or geographic areas. To better reflect its purpose, the SDA will hereafter be known as the Social Impact Account (SIA).