The Administrative Council of the Council of Europe Development Bank (CEB) approved, via written procedure, six new loans totaling € 326.5 million. The financing will help member countries mitigate the impact of COVID-19, preserve and create jobs, as well as invest in sustainable transport solutions and education for all.
Italy: A €75 million Project Loan to Ente Ospedaliero Ospedali Galliera to build a new hospital in compliance with the highest European standards in terms of accessibility and services. Target’s final beneficiaries include the Region of Liguria’s population, which is characterised by a high share of the elderly.
Lithuania: A €100 million Public Sector Financing Facility to the Government of Lithuania to address the current crisis by supporting COVID-19 related budgetary expenditure for emergency health care and basic public services. The beneficiaries comprise a wide range of people in Lithuania, with a focus on employees, medical staff, families, and households, people seeking medical treatment, staff involved in COVID-19 concerned sectors, etc. Also, a €21.5 million Public Sector Financing Facility to Kauno Autobusai to finance the modernisation of public transport in Kaunas City Municipality. The main objective is to improve the quality and environmental sustainability of public transport by co-financing the renewal of the bus fleet. The final beneficiaries of the project will be current and future users of the public transport system in Kaunas.
San Marino: A €10 million loan to San Marino to support the country’s efforts in managing the COVID-19 health crisis by co-financing medical expenses incurred by the State Hospital. In particular, San Marino’s hospitalisation capacity will improve to 20 ICU and 70 coronavirus-dedicated beds, while medical supplies, such as the diagnostic tests, will help to contain another potential coronavirus outbreak. The final beneficiaries will be San Marino residents.
Serbia: €20 million in additional financing to ProCredit Bank Serbia to support micro, small and medium-sized enterprises (MSMEs) throughout Serbia, particularly those that have been negatively impacted by the COVID-19 pandemic. The CEB loan will contribute to the preservation of existing jobs and to the creation of new, permanent, and seasonal, employment opportunities. On the longer term, these investments are set to contribute to Serbia’s sustainable economic recovery.
Sweden: A €100 million Public Sector Financing Facility to the City of Uppsala to partially finance the construction of new educational buildings as well as restoration, renovation, or extension of existing facilities. The investments will create 4 100 pre-school and primary school places by the 2022-2023 academic year and will thus allow the city to better respond to an increase in overall population by approximately 125 000 residents in the next three decades. In addition, all new and renovated infrastructures will be energy efficient and will be planned for better climate resilience. The final beneficiaries of this project will be children attending pre-schools, primary and secondary schools as well as the community at large.
Original source: CEB
Published on 03 July 2020