The social development bank for Europe
CEB supports social housing in France
20 November 2015
PARIS - The Council of Europe Development Bank (CEB) and Adoma (formerly known as Sonacotra), the leading social housing provider in France, signed today a €100 million loan agreement in the Bank’s premises in Paris.
The loan had been approved by the CEB’s Administrative Council at its meeting held in Berlin on 12 June 2015, and confirmed at the 76th annual meeting of the USH (L'Union sociale pour l'habitat) in Montpellier on 22 September 2015.
Adoma, which is part of the Group SNI, specialises in the provision of housing solutions for vulnerable population groups. CEB funds will benefit retired migrant workers, asylum-seekers, homeless, and members of the Traveller community.
The CEB was represented at the signing ceremony by Vice-Governor for Social Development Strategy Apolonio Ruiz-Ligero. Signing on behalf of SNI was André Yché, Chair of the Board of Directors of the Group SNI. Also present were General Director of Adoma Jean-Paul Clément, and SNI General Directors Yves Chazelle and Manuel Flam.
Following the signing, Vice-Governor Ruiz-Ligero said: “Aid to refugees, migrants and displaced persons has been one of the statutory priorities of the CEB since its establishment in 1956. The agreement signed today will make an important contribution to the development of Adoma’s strategic plan, whose final beneficiaries are persons in a precarious situation. This loan agreement reaffirms the CEB’s strong commitment to advancing social cohesion in Europe and we are delighted to be working with a major social housing provider in one of our founding member countries.”
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.
Financing Social and Affordable Housing in Europe: the CEB's ApproachPublished: May 2015 Download