The social development bank for Europe
Supporting women entrepreneurs in Italy
Fighting exclusion through microfinance
Despite extensive banking networks, many small business and individuals lack access to financial services. To alleviate financial exclusion, the CEB partners with microfinance institutions such as PerMicro, a leading non-bank financial institution in Italy.
Donor support has been crucial for this project. The Bank used the resources of the Social Dividend Account (SDA) as collateral for its loan to PerMicro, which otherwise would not have been eligible for CEB lending.
Social Dividend Account (SDA)
The Social Dividend Account (SDA) is used to support highly social projects. It is financed mainly by contributions from the CEB member states, through allocations from the Bank’s annual profit, which amount to €117 million since its creation in 1996. To date, the Account has financed €16 million in grant contributions and €5 million in technical assistance grants. The SDA has also subsidised €2 billion and guaranteed €57 million in CEB loans respectively.