CEB Administrative Council approves seven new projects
6 November 2014
Today, at its 290th meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved seven new loans totalling close to € 579 million.
Albania –€ 28.7 million to the Government for the development of poor rural communities and the modernisation of municipal infrastructures with respect for historical heritage and the environment.
Spain –€ 50 million to Sociedad Pública de Infraestructuras y Medio Ambiente de Castilla y León, S.A. to finance investments in the area of energy-saving and for the construction of new wastewater treatment plants. € 280 million to Instituto de Crédito Oficial to finance productive investments of micro-, small and medium-sized enterprises (MSMEs) in order to promote their development and stimulate job creation in Spain.
Hungary – € 50 million to the Hungarian development bank EXIMBANK to facilitate access to financing for MSMEs wishing to maximise their exportation capacity in order to develop.
Czech Republic –€ 100 million to Societe Generale Equipment Finance Czech Republic s.r.o. for the financing of Czech and Slovak MSMEs and for the modernisation of public infrastructure in urban and rural areas. € 20 million to Czech-Moravian Guarantee and Development Bank for the financing of investments by Czech municipalities in the modernisation of public infrastructure in urban and rural areas.
Romania –€ 50 million to BRD Sogelease S.A., a subsidiary of the second largest bank in Romania and specialising in financial leasing, for the financing of investments of MSMEs in order to strengthen their competitiveness and stimulate job creation.
These new projects bring the total amount approved this year to € 2,065 million. 64% of this amount has been for the benefit 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.