News
Slovak Republic contributes another €2 million to the CEB to promote sustainable development
20 August 2019
Paris – The Council of Europe Development Bank (CEB) welcomes an additional €2 million grant contribution from the Slovak Republic to the “Slovak Inclusive Growth Account” (SIGA).
The SIGA, which the Slovak Republic endowed with a €2 million grant contribution in 2016, supports inclusive growth and environmental sustainability, which are among the CEB’s strategic priorities.
More specifically, the SIGA finances technical assistance related to the preparation and implementation of projects, such as feasibility studies, environmental and social impact assessments, business plans, tender documentations, contractual arrangements, and advisory services.
Most recently, the SIGA funds have financed health infrastructure in Serbia; environmental protection in Georgia; and improvements to detention facilities in Bosnia and Herzegovina, among other projects.
The Slovak Republic, a CEB member since 1998, has also contributed €300 000 to the CEB’s Migrant and Refugee Fund (MRF), which was established in October 2015.
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 (AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook stable and Aa1 with Moody's, 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.