Investing in people and enhancing human capital

Investing in people’s health, wellbeing and education is essential for social cohesion and fostering inclusive, thriving communities. The CEB takes a holistic approach to addressing disparities in access, affordability and quality of health and education systems, while promoting gender equality and inclusion, including among migrants and refugees, as well as sustainability. Investing in cultural activities is also important. For instance, by supporting the protection and rehabilitation of cultural resources, the CEB helps make cultural spaces more inclusive and accessible.

In 2024, the Bank approved six loans for health and social care in four countries, totalling €603 million. These projects include expanding and reinforcing healthcare in Finland, the Slovak Republic and Spain. The CEB also approved six loans totalling over €594 million to support education in six countries, as well as €142 million for the protection and rehabilitation of historic and cultural heritage in Cyprus and Romania. The Bank’s support for the renovation, expansion and modernisation of education infrastructure across Hungary and the creation of a major new centre for Cypriot archaeology in Nicosia are highlighted as examples below.

Improving education infrastructure in Hungary

Hungary’s Education Strategy for 2021-2030 underscores a commitment to long-term planning and reducing disparities in the education system, including increasing public spending on education and addressing the need for improved educational facilities. In 2022, this commitment resulted in sharp decrease in the number of education buildings in need of repairs.

The Government of Hungary’s Education Infrastructure Development Project (EIDP) has been essential in addressing infrastructure needs. The CEB’s €200 million loan to Hungary is the Bank’s third contribution to the initiative, which started in 2014, and builds on a longstanding partnership to support the country’s educational infrastructure. In this third phase, the loan will support the renovation of 20 800 square metres of usable space, while about 76 000 square metres of new space will be created in seven educational facilities. These works will adhere to high-energy efficiency standards and help reduce pollution. Around 10 000 students attending primary, secondary and vocational schools will benefit from the infrastructure improvements. The CEB’s total loans to Hungary for the EIDP initiative since 2014 are now valued at almost €400 million.

Constructing a new archaeological museum in Cyprus

Cyprus has gained international recognition as a cultural hub, not only for the vital role the country has played in shaping the history of the eastern Mediterranean, but also for the distinctive character of ancient Cypriot art. However, the existing archaeological museum in Nicosia is no longer able to meet the needs of its continually expanding and diverse collection nor the expectations of its visitors.

The Nicosia City Centre Development Plan promotes the inner-city’s rejuvenation by fostering economic activity and community engagement in connection with Nicosia’s rich cultural heritage. A €72 million loan to the Republic of Cyprus will support the creation of the new Cyprus Archaeological Museum as a leading international cultural institution dedicated to the country’s rich archaeological heritage. As a dynamic cultural landmark, the new museum will feature expansive exhibition spaces and innovative digital technology, allowing it to reach a wide audience and to fulfil its social and educational mission. In alignment with the city’s development plan, the museum will foster social and cultural interrelationships at the heart of this historically divided city.

©CEB 2025