News
Administrative Council approves new projects
13 June 2014
SARAJEVO - Today, at its 288th meeting held in Sarajevo, the Administrative Council of the Council of Europe Development Bank (CEB) approved six new loans worth a total of € 358.4 million.
Albania - € 15.9 million to the Government for the completion of works conducted in relation to a project previously funded by the CEB in favour of Tirana University Hospital. In addition to this loan, a grant of € 1.5 million was approved to finance the preparation of the project.
Bosnia and Herzegovina - € 5 million to the Government to facilitate access to housing for young graduates as an incentive to pursue their career in the country, and € 2.5 million to micro-credit specialist MCC Mikrofin to finance productive investments by micro and small businesses throughout the country.
Bulgaria - € 35 million to CIBANK to finance productive investments by micro and small businesses throughout the country.
France - € 200 million to Département de la Seine-Saint-Denis to co-finance an investment programme in the areas of family affairs and education.
Lithuania - € 100 million to the Government in the form of a Public Sector Financing Facility (PFF), a new financial instrument developed by the CEB, to co-finance a public investment infrastructure programme in the areas of culture, sport, health and education as well as for administrative and judicial buildings.
These new projects bring the total amount approved so far this year to € 1,261 million. 73% of that amount has been in favour of target group 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.