The social development bank for Europe


CEB support for the action of the Caixa Geral de Depósitos in favour of social infrastructure in Portugal

16 December 2009

PARIS - The Caixa Geral de Depósitos S.A. (CGD) represented by Mr. Pedro Cardoso and Mr Norberto Rosa, members of the Administrative Council, and the CEB, represented by Mr. Apolonio Ruiz-Ligero, Vice-Governor, signed a loan contract worth 50 million euros.

The CEB funds will finance part of the activities of the CGD aimed at helping disadvantaged families within the framework of two initiatives set up by the Portuguese Government for the protection of the most vulnerable social groups:

1 - PARES, a programme of expansion of the Portuguese social facilities network, aimed at increasing the number of nurseries and day-care centres for children. 

2 - RNCCI, a national long-term care network, aimed at developing home care services and residential facilities for the elderly and/or the disabled.

This 5th operation between the CEB and the Caixa Geral de Depósitos consolidates the partnership woven between the two institutions.

Created in 1876, as socially oriented public savings bank, the Caixa Geral de Depósitos was in 1993 given the legal status of a public limited company, whose capital is exclusively held by the Republic of Portugal. Its operations are subject to private sector legislation. The Caixa Geral de Depósitos is the mother company of the largest financial group in Portugal. 

Since the country joined the CEB in 1976, 43 projects have been approved for Portugal for an accumulated amount of 1 898.3 million euros.

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