Germany contributes an additional € 1 million to the Regional Housing Programme
12 December 2016
PARIS – Germany is contributing a further € 1 million to the RHP Fund, in addition to the € 5 million which it donated in 2012. This contribution makes Germany the third biggest donor to the RHP Fund, after the European Union and the United States.
At the latest RHP Assembly of Donors meeting held on 1st December in Paris, Germany pledged an additional € 1 million for the RHP Fund. This contribution was signed today, bringing the country’s overall commitment to € 6 million. The latest contribution from Germany is earmarked for Montenegro and will be used to finance the construction of individual houses in Montenegrin municipalities.
Germany’s representative, Mr Georg Hagl, highlighted that these additional resources reflected his country’s appreciation of the RHP: “All stakeholders have a reason to be optimistic and enthusiastic about its future and outcome.”
As of today, a total of € 269 million has been pledged for the RHP, of which € 230 million by the European Union. A total of 22 housing projects worth € 155 million have been approved to date. These projects should improve the living conditions of over 20 000 vulnerable persons in the four partner 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.