The Council of Europe Development Bank (CEB) approved seven new loans totaling €624 million to improve healthcare and social infrastructure, energy efficiency measures, and to support micro, small and medium-sized enterprises (MSMEs) across Europe.
“The wide range of the projects financed by the CEB confirms that we are the bank of choice for social investments in Europe,” said CEB Governor Carlo Monticelli. “We consistently support our member countries to deliver quality essential services to their citizens, while adapting to the most pressing and changing local needs.”
In Belgium, the CEB approved an additional €89 million loan to Institut Jules Bordet of the Université Libre de Bruxelles for the modernization of premises and installation of new equipment. The institute is currently the only hospital in Belgium entirely dedicated to treating cancer. As one of the most renowned cancer research and treatment centers in Europe, it caters to both locals and patients from across Europe, and it attracts many students and professionals to its learning programs. This loan complements the €110 million that the CEB approved to the Institute in 2012.
The CEB will continue to support COVID-19 recovery initiatives in Italy with a new €50 million loan to Istituto per il Credito Sportivo. This loan builds on the ongoing cooperation with the Istituto, which allowed local authorities to partially finance sports facilities. Due to COVID-19, non-profit amateur sport in Italy came under a severe financial strain, especially in the less developed areas of the country where access to facilities falls well short of the national average. The project will go a long way to reducing regional social inequalities.
In Lithuania, the CEB will finance the improvement of energy efficiency in residential buildings with a €40 million loan to “Siauliu Bankas Modernizavimo Fondas”. The project will help achieve ambitious national energy-saving targets and support Lithuania’s long-term strategy to renovate approximately 39,000 outdated apartment buildings. The residents will enjoy substantial savings in terms of heating costs, as well as better quality of life and comfort in the dwellings.
In Poland, the CEB is supporting micro-, small- and medium-sized businesses with a €200 million loan to Pekao Leasing Sp. Z.o.o. The project will focus on securing financing to MSMEs that otherwise have limited access to funds. A significant share of CEB funds will be dedicated to women entrepreneurs and women-led businesses. The project will also provide incentives to MSMEs to bring their vehicles in line with the 2015 Paris Agreement on Climate Change.
Another project that aims to enhance the resilience of MSMEs is the €15 million loan to Raiffeisen Leasing Romania IFN SA, which will help Romanian businesses deal with the economic, social, and health consequences of the COVID-19 crisis. It will partially finance lease contracts for productive investments, including vehicles, machinery, and equipment, as well as office and production premises. The loan represents an increase to the previous €65 million loans that the CEB approved to Raiffeisen Leasing Romania IFN SA in 2017.
With a €200 million loan, the CEB continues to support the Government of Serbia in an ambitious overhaul of the healthcare infrastructure across the country. The project will deliver improvement in healthcare facilities, as well as the quality of services in social care for vulnerable groups, in particular the elderly, orphans, and children with special needs. In addition, the project will contribute to enhanced energy efficiency measures in targeted healthcare centers.
The second loan in Serbia is worth €30 million and aims to reduce overcrowding and improve living conditions and rehabilitation opportunities for prisoners. It will fund the construction of a new prison in the city of Kruševac, and of a new wing in the existing prison in Sremska Mitrovica. The project will deliver modern equipment and amenities for training, education, and recreation. The direct beneficiaries will be the 650 inmates detained in the two prisons, as well as prison staff who will enjoy better working conditions.
