CEB supports Castilla y León’s investments in the health sector through a € 160 million loan
22 July 2016
VALLADOLID – The Regional Minister for Economy and Finance of Castilla y León, Ms. María Pilar del Olmo Moro, and CEB Vice-Governor Apolonio Ruiz-Ligero signed a framework loan agreement for € 160 million to support the construction, rehabilitation and equipping of public healthcare facilities, ranging from primary care centres to specialist care hospitals, spread across the region, as well as for research and development activities, including telemedicine.
Funds from the CEB loan will cover about 52% of the Borrower’s investment needs over the 2016-2018 period with the focus on the following three project components co-ordinated by the Regional Health Authorities (Consejería de Sanidad):1- Improving primary care infrastructure and equipment (14% of the total project cost), through investments in the construction, extension, rehabilitation and equipping of primary health centres.
2- Improving specialist care infrastructure and equipment (75% of the total project cost), through investments in the modernisation, expansion and equipping of small, medium and larger specialist care hospital facilities of the region.
3- Supporting research and information society in the healthcare sector (11% of the total project cost), through investments aimed at supporting research and development activities in the health sector and the development of telemedicine.
Selected investments, both on-going and new, are included in the region’s budget for the 2016-2018 period. They are considered essential by the regional authorities in order to alleviate overcrowding, provide adequate living and treatment conditions for patients, and create better access to services.
The agreement is the latest of three loan agreements from the CEB in favour of Castilla y León, totalling € 310 million. The two previous agreements were signed in 2012 (€ 100 million for investments in water, wastewater treatment, and fire prevention infrastructure) and in 2015 (€ 50 million loan for SOMACYL, S.A., the regional public utility company, to partially finance investments in energy efficiency and wastewater treatment infrastructure).
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 stable 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.