Project approvals

PARIS - At its 281^st session today in Paris, the Administrative Council of the CEB approved seven new projects in six countries, for a total amount of 386 million euros. More than half of the funds are dedicated to the target group countries, mainly aimed at supporting the creation and preservation of viable jobs in SMEs.

In choosing these specific projects, the Administrative Council and the Management of the CEB strongly showed the Bank’s commitment to supporting employment and improving living conditions.

With these new loans, the CEB continues to work in favour of social cohesion in Europe and plays its part in fighting the social consequences of the long lasting economic and financial crisis.

Germany - 100 million euros to NRW.Bank. Dedicated to social housing.

France - 50 million euros to the CYCLHAD company. The project aims at financing the creation of the European Centre for Research and Development in Hadrontherapy, an innovative radiotherapy method used to treat inoperable radio-resistant cancerous tumours.

Ireland - 41 million euros to the National Treasury Management Agency. They will be used to build a new prison in Cork and new penitentiary establishments for minors in Oberstown.

Romania - A 25 million euros loan to the CEC Bank SA to finance SME productive investment, and a 50 million euros project with Unicredit Tiriac Bank SA that will enable municipalities to invest in social and environmental infrastructures.

Slovak Republic - 40 million euros to OTP Banka Slovensko to support investments undertaken by SMEs and municipalities to facilitate the creation of new businesses, promote employment, improve livings conditions and enhance protection of the environment.