The social development bank in Europe

News

Project approvals

20 June 2012

PARIS - 4 projects were approved by the Administrative Council, at its meeting on 16 June in Chisinau, for an amount of 230 million euros.

To contribute effectively to strengthening social cohesion in Europe, in the face of the crisis, the projects approved respond to a twofold priority objective: employment, in the CEB's target countries. For the most part, these projects therefore aim at supporting finance productive investments carried out by micro, small and medium sized enterprises, which play an essential role in fostering employment and economic development. The remaining part of these investments is intended to finance municipal infrastructure, whose impact on improving living conditions of the populations concerned is significant.

Below are the projects approved by country.

Croatia
A project worth 50 million euros with the Croatian bank for reconstruction and development (HBOR) that supports Croatian SMEs’ access to medium and long- term financing for their productive investments. One part of the CEB loan will be used to finance small and medium-sized municipal infrastructure.

Romania
Two projects with domestic subsidiaries of Raiffeisen group, one worth 50 million euros withRaiffeisen Bank (RBRO), andthe other worth 30 million euros with Raiffeisen Leasing (RLRO). The former project has two components aimed at financing, on one side, investments carried out by SMEs and, on the other, infrastructure with social vocation that is under the responsibility of local authorities or entities providing public services. The second project focuses on SMEs, leasing being often the only form of investment financing still available for the smallest enterprises.

Turkey
A project worth 100 million euros with Yapi Kredi, Turkey’s fourth largest privately- owned commercial bank by assets size, which has a wide network of branches,to meet the needs of Turkish SMEs throughout the country.

Moldova
The Administrative Council also approved a donation of 500 000 euros paid over to the Government for the purchase of equipment for the national blood transfusion centre (see dedicated press release).