CEB finances energy-efficient renovation programme in the Netherlands
29 January 2018
The Council of Europe Development Bank (CEB) approved a € 100 million loan to the National Energy Saving Fund Foundation (Stichting Nationaal Energiebespaarfonds – NEF) in order to finance energy efficiency improvements to residential properties in the Netherlands.
The NEF, which was established by the Dutch Ministry of the Interior and Kingdom Relations in 2014, is managed by the Stimuleringsfonds Volkshuisvestning Nederlandse Gemeenten (SVn), a non-profit organisation comprising 120 municipalities and covering nine provinces. The aim of the NEF is to encourage owner-occupants to make energy-efficient improvements to their homes, in the framework of the Dutch government’s energy savings policy in line with European Union directives in that area.
The funds provided by the CEB will be channelled to eligible homeowner associations and to individual homeowners who occupy houses, flats and houseboats in order to enable modernisation works with a particular focus on energy efficiency measures. Bearing in mind that in the Netherlands the built environment accounts for almost one-third of the country’s total energy consumption, the programme is expected to make an important contribution to the Dutch government’s medium- and long-term energy targets.CEB Governor Rolf Wenzel said: “Climate change mitigation and adaptation measures are among the CEB’s priority areas of financing as set out in the Bank’s strategic planning. Hence, environmental considerations are essential for every project that we look at. In addition to that, we finance projects that have an environmental focus, such as the loan to NEF which has just been approved. We are happy to be continuing our constructive partnership with SVn in support of social development in the Netherlands and are confident that with this loan we will help the Dutch government achieve its energy savings objectives.”
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.