News

The CEB exceeds €6 billion in 2020 project approvals

13 November 2020

PARIS - The Council of Europe Development Bank (CEB) approved four new loans for social infrastructure projects in Germany, Lithuania, and Serbia. Cumulatively, the CEB’s 2020 approvals thus slightly exceed €6 billion, which represents an increase by €2 billion compared to those recorded in 2019.

Germany: A €100 million Programme Loan to Gewobag Wohnungsbau AG Berlin to finance the construction and modernisation, including retrofitting, of about 5 400 social and affordable housing units. The CEB financing is expected to contribute to helping some 10 000 housing beneficiaries, predominately low-income households and specific vulnerable population groups, such persons with disabilities, the elderly, students, and migrants, residing in Berlin.

Lithuania: An additional €67.5 million to the Government for the Apartment Building Renovation Fund and a €35 million increase to an existing financing agreement with the City of Vilnius. The former will support investments in energy efficiency measures and retrofitting works of multi-apartment buildings throughout Lithuania. Living conditions will be improved for all residents concerned while the environmental impact of residential buildings will be reduced significantly. This loan will increase the total amount of CEB financing made available for the fund to €167.5 million (40% of total). The latter will finance social infrastructure investments under the City of Vilnius’s Investment Plan, such as the construction and rehabilitation of education, health, and social care facilities. The city is home to more than 580,000 people (20% of Lithuania’s population); a wide range of population groups is expected to benefit from the future investments. This loan will increase the total CEB financing made available for the programme to €70 million for the 2017-2022 period.

Serbia: A €32 million Project Loan to the Government for the construction of two student dormitory buildings, including installations and equipment, in the cities of Belgrade and Niš. The new dormitories will comprise a total of 1 400 individual accommodation units. State-financed students throughout Serbia, particularly those from less developed regions and low-income families, will benefit from the new investments. In addition, 10% of all accommodation will be allocated to students of a specifically vulnerable background, such as a parentless or a single-parent family, refugees and internally displaced persons, or Roma and other minority groups.

Set up in 1956, the CEB (Council of Europe Development Bank) has 42 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 (Aa1 with Moody's, outlook stable, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook stable and AAA* with Scope Ratings, 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.
*unsolicited