The social development bank in Europe

The CEB bridge-finances social investments in the Slovak region of Trenčín to improve living conditions

The Trenčín Self-governing Region in the Slovak Republic, situated close to the borders with the neighbouring Czech Republic and comprising around one-tenth of the country’s population, is home to some of the oldest cities in the country and is rich in monuments and beautiful landscapes. With a regional GDP per capita in purchasing power standards slightly lower than that of the country’s average, which, in turn, is significantly lower than the EU average, Trenčín Region has great potential for further development in terms of public infrastructure.

Vice-Governor in Trencin
Rosa María Sánchez-Yebra Alonso and Jaroslav Baška
It is precisely in these three sectors, the rehabilitation of historic and cultural heritage, the modernisation of urban and rural areas and the protection of the environment, that the Council of Europe Development Bank (CEB) is bridge-financing regional investments expected to improve the living conditions of the local population.

Following the approval of a € 13 million loan by the CEB’s Administrative Council in September 2016, the Vice-Governor for Social Development Strategy, Rosa María Sánchez-Yebra Alonso, signed on behalf of the Bank a loan agreement at a signing ceremony in Trenčín on 26 April. Representing the Self-governing Region was Jaroslav Baška, President of the Region. Also present at the ceremony were Michal Žitňanský, Director of the Region, Renáta Ozimová, Director of the Financial Department, Martina Lamačková, Head of Regional Development Strategy and Project Implementation, Eva Frývaldská, Executive Director of the Regional Tourism Organisation of Trenčín Region, and Ján Matuška, CEB Country Manager for the Slovak Republic. 

The CEB loan will provide bridge-financing through an “EU Co-financing facility”, an instrument specially created by the Bank for such cases, for projects financed by European Structural and Investment Funds. CEB funds will ensure the uninterrupted financing of the projects and accelerate their completion.

Specifically, there are three projects concerned. The first is the opening of the south fortification of the Trenčín Castle, which, combined with the construction of an access road through Brezina, will allow the public to visit previously unseen parts of this historic monument. The second project involves the construction of a cycle route between Nemšová and Trenčín, to serve as a link between two important cultural and natural sites. The construction of this cycle route is part of the regional government’s wider efforts to support the development of cycling in the region as a means of contributing to environmental protection and strengthening regional infrastructure. The third project foresees the modernisation of a library in Považská Bystrica.    

Commenting on the loan agreement, Vice-Governor Sánchez-Yebra Alonso said: “I am pleased to have signed the first loan provided by the CEB to the Trenčín Self-governing Region. The funds will improve the living conditions of the region’s 600,000 inhabitants and help to protect the cultural heritage, whilst also improving the economic environment. This agreement will strengthen further the excellent cooperation between the CEB and the Slovak Republic.”

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