The social development bank for Europe
The City of Szczecin and the CEB sign a loan agreement to finance social municipal infrastructure
22 October 2009
The CEB funds will be used to implement public infrastructure projects contained in the City’s long-term investment programme. They will make it possible to create conditions that foster sustainable economic development and to improve the quality of life for the nearly 410 000 inhabitants of Szczecin, the capital of Western Pomerania.
The City’s development policy should enable Szczecin to upgrade to the level of a modern European centre and to strengthen its presence in the southern Baltic Sea, while developing awareness among the local population concerning the environmental implications of its situation as a port at the mouth of the Odra river.
The project comes with the CEB’s strategy to support local and regional authorities in Poland in developing public infrastructure and to consolidate its commitment alongside municipalities and regions to help them better integrate and enhance their attractiveness on the European regional scene.
“We are extremely pleased today to begin our cooperation with the City of Szczecin and to enable it to make use of the advantageous financing conditions proposed by the CEB. We are sure that the City will use these funds in the best possible conditions in order to develop its municipal infrastructure that will contribute to the social and cultural development effort wished for both by the authorities of the City of Szczecin and by those of the CEB” declared Imre Tarafás, Vice-Governor of the CEB.
Since it joined the CEB in 1998, 31 projects have been approved in Poland representing an accumulated amount of 2.08 billion euros, half of which has been in the form of direct financing to local authorities.