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Project approvals

20 September 2013

PARIS - At its 284thsession in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved nine new loan requests totalling 490 million euros, 80% of which will be going to target group countries.

A major part of this funding, 328 million euros, will target employment by financing the investments of micro, small and medium-sized enterprises (MSMEs), a sector at the cutting edge of economic growth in Europe.

125 million euros are destined for improving urban and rural living conditions, via the renovation or construction of new public infrastructure. 37 million euros are earmarked for environmental protection, a forward-looking sector that contributes to European quality of life.

Czech Republic - 50 million euros to Unicredit Bank CZ to finance the investments of Czech and Slovak MSMEs, along with the investments of local authorities wishing to modernise their public infrastructure and protect the environment.

Georgia - 10 million dollars to JSC Bank Republic to finance start-ups and small companies in Georgia, a country with one of the lowest per capita incomes in the CEB’s target group.

Hungary -  75 million euros to MFB, around half of which will go towards financing MSME investments, a third towards developing local infrastructure and the rest towards improving the energy efficiency of a number of residential housing blocks.

Poland - a loan of 50 million euros to BZ WBK Leasing S.A. to finance the development of small, local businesses, a source of jobs and growth; a second loan of 280 million PLN, to the town of Lublin, for public transport and education infrastructure.

Slovak Republic - 40 million euros to the Capital City of SR Bratislava to modernise its urban transport system. This project anticipates replacing the old, polluting trams and buses that still crisscross the city with a modern, more energy-efficient and environmentally-friendly fleet.  

Spain - 100 million euros to Banco Santander to finance Spanish MSMEs at a time when the country is facing an unemployment rate of more than 27%.

Turkey - two loans of 50 million euros each to TC Ziraat Bankasi, Turkey’s second largest commercial bank. The first will help Turkish MSMEs to access long-term capital; the second will, through TC Ziraat Bankasi’s lease financing subsidiaries, support small companies that require such credit to develop their activities.