09/24/2021 | Press release | Distributed by Public on 09/24/2021 05:38
PARIS - The Council of Europe Development Bank (CEB) today approved seven new loans totalling €628 million. The financing will support investments in social infrastructure across Europe, as well as improved access to funding for micro, small and medium-sized enterprises (MSMEs).
Cyprus: A €65.5 million Public Sector Financing Facility (PFF) to the Government to promote equitable and inclusive public education in Cyprus. The proposed PFF is expected to have a positive social impact in improving the safety of pupils and teachers through the upgrading of public-school infrastructure to anti-seismic requirements. End beneficiaries will include pupils, students, teachers and education staff who will benefit from safer and improved learning and teaching environment.
Czech Republic: A €50 million Programme Loan to Národní rozvojová banka (NRB) to improve living conditions in urban and rural areas by co-financing investments in revitalisation and modernisation of public infrastructure, as well as in environmental protection. The final beneficiaries will be the residents of municipalities as the investment projects will improve basic services and bring the living standard of the local population closer to the EU average.
Germany: A €100 million Programme Loan to Leipziger Wohnungs and Baugesellschaft MBH to complement an existing CEB Programme Loan from 2019 to finance the provision of rental housing in the City of Leipzig. The additional loan will finance the construction of new rental housing and the renovation of existing housing estates, with the aim of promoting a balanced housing policy and ensure social diversification. The direct beneficiaries will be low-income households, including young families, single parents, elderly persons, students, migrants and refugees.
Lithuania: A €4 million Programme Loan to the Lithuanian Central Credit Union to enable access to bank financing for MSMEs, in particular micro-enterprises, thereby fostering their growth and promoting entrepreneurship. The loan will contribute to the creation and development of income-generating activities, self-employment and other job opportunities.
Poland: A €200 million Programme Loan to PKO Leasing (PKOL) to contribute to economic recovery, create new permanent and seasonal jobs and preserve existing ones by strengthening the sustainability and the competitive position of end-beneficiary MSMEs. The loan consists of partial financing of eligible investments undertaken by Polish MSMEs through PKO Leasing S.A.
Portugal: A €158.7 million Programme Loan to the Regiao Autonoma da Madeira to finance a new hospital in the Autonomous Region of Madeira (ARM) and provide access to public healthcare services for the resident population and visitors. The Project will develop a modern, unified hospital campus to replace the current obsolete and dispersed hospital system. The direct beneficiaries will be the ARM's resident population of 250 000 and 1.5 million visitors.
Spain: A €50 million Public Sector Financing Facility (PFF) to the Sociedad Pública de Infraestructuras y Medio Ambiente de Castilla y León S.A. to strengthen environmental protection and provide drinking water to municipalities located in the Castilla y León region. The beneficiaries will be the 2.4 million inhabitants of the region who will reap the benefits of improved water quality and ecological preservation of the aquatic environment.
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 positive 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.