CEB extends €43 million loan to Subcarpathian Region in Poland to support public infrastructure and health
25 October 2018
RZESZÓW - The Governor of the Council of Europe Development Bank (CEB), Rolf Wenzel, signed today on behalf of the CEB a PLN 180 million (EUR 43 million) framework loan agreement with the Region of Subcarpathia in Poland to support social investments in public infrastructure and health.
The funds provided by the CEB will support the region’s development strategy, which covers the period until 2020 and focuses on transport accessibility and the development of human and social capital. Specifically, the loan will finance public works aimed at modernising the regional road network and railway infrastructure. This will provide links between various towns within the Subcarpathian region and also improve the external accessibility of the region as a whole.
In addition, CEB funds will be used for the financing of regional investments in the protection of cultural heritage, in particular concerning Łancut’s landmark castle and museum complex, and will also strengthen the region’s capacity to deliver services related to territorial planning.
In the health sector, the loan provided by the CEB will finance activities aimed at increasing the availability and quality of comprehensive health facilities, including highly specialised services such as diagnostic and medical centres as well as a regional oncology centre in the city of Tarnobrzeg.
Overall, the investments financed by the CEB are expected to have a very positive impact on the living conditions of the region’s 2.1 million inhabitants, providing them with a modern road and public transportation network as well as with enhanced health services. Improving Subcarpathia’s accessibility and public infrastructure will likely attract new investments and boost economic growth.
The loan agreement, which was signed in Rzeszów by Subcarpathia’s Governor Władysław Ortyl and Vice-Governor Bogdan Romaniuk, is the second CEB loan extended to the Region and follows the financing of numerous projects at the regional and municipal level in Poland.Governor Wenzel said: “The loan agreement that the CEB signed today with Subcarpathia will support investments in social areas such as public transport and health, which are not only hugely important for the development of any region but also figure among the CEB priority areas of financing. We are pleased to be strengthening further our excellent cooperation with Poland, which involves CEB operations in a range of social sectors across the country.”
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.