CEB supports schools, refugee facilities in Paris
18 March 2016
PARIS - The Council of Europe Development Bank (CEB) approved today a € 200 million loan to the City of Paris to part-finance investments in education infrastructure and reception facilities for refugees.
Given the demographic changes of recent years, there is a need for Paris school infrastructure to be modernised, while also fostering the inclusion of persons with disabilities through improved accessibility. Moreover, as Paris is confronted with unprecedented levels of migration, it is important to support the integration of migrant and refugee children into society.
CEB financing will help to improve educational standards, particularly in the areas with the greatest social difficulties.
More specifically, the funds will be used for the construction of new schools and the renovation of existing premises, with emphasis on enhancing energy efficiency.
Furthermore, CEB funds will finance emergency reception facilities and will also be used for welfare centres and the provision of French language courses, with the aim of facilitating the long-term integration of migrants and refugees.The loan will contribute to reducing social disparities and combating exclusion, while also enhancing the standard of education facilities in the French capital.
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.