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Project approvals

21 September 2012

PARIS - 7 projects approved by the Administrative Council for an amount of 400 million euros

To foster social cohesion in the face of the crisis, the CEB continues to mobilise its efforts to promote employment – by contributing to financing investments in very small, small and medium sized enterprises (VSEs/SMEs) – as well as improvement in the living conditions of populations.

Bosnia and Herzegovina
A project worth 30 million euros with Intesa Sanpaolo d.d. Bosna i Hercegovina, the country’s leading bank in the SME sector, to finance SME investments. The CEB thus intends to contribute to the economic development and to the fight against unemployment, which stood at over 40% in early 2012, representing the highest unemployment rate of all its Member States.

Bulgaria
A project worth 10 million euros with ProCredit Bank(PCBB), which has specialised in VSE/SME financing since its creation. This project will facilitate VSE/SME access to credit for productive investments.

France
A project worth 100 million euros with Crédit mutuel ARKEA, a private-sector body very active in the financing of social housing in France. This project will contribute to financing works involved in adapting some 12 000 housing units for the ageing population as part of a programme aimed at reducing home accidents and keeping elderly persons in their homes.

Germany
A project for an amount of 190 million euros with ILB, the development agency of the Land Brandenburg and a long-standing partner to the CEB, aimed at financing a wide range of local infrastructure as well as productive investments in VSEs/SMEs. This project will contribute to achieving the objective of reducing demographic, economic and social imbalances between the Land Brandenburg and other Länder 

Poland
Two projects amounting to 20 million euros, one with Bank BPS and the other with SGB Bank SA, which are respectively the country’s first and second cooperative banks. In both cases, the CEB loans will be used to finance productive investments in VSEs/SMEs and social infrastructure pertaining to local authorities or related bodies.

Slovak Republic
A project worth 30 million euros with the Slovak Guarantee and Development Bank (SZRB), whose capital is entirely state owned. This project will facilitate access to credit for VSEs/SMEs, as well as revitalize and modernize local infrastructure.

Montenegro
The Administrative Council also approved a grant of 400 000 euros, which is to be paid over to the Government, in order to make temporary housing available for some 800 refugees, for the most part Roma, following the fire that devastated the Konik 1 refugee camp in July 2012.