The Council of Europe Development Bank and BNG Bank sign a EUR 300 million global loan
14 December 2017
The agreement was signed at BNG Bank's headquarters in The Hague. The funds provided by the CEB will be used by BNG Bank to partially finance the construction or modernization of inter alia municipal local infrastructure, social housing, healthcare facilities and energy efficiency investments across the Netherlands.
"BNG Bank is a committed partner for a socially responsible society. Our goal is to support government policy at the lowest possible rates. Through this lending facility BNG Bank can give clients the opportunity to benefit from CEB financing. Therefore, this agreement is perfectly in line with the bank's strategy", said Olivier Labe, member of BNG Bank's executive board (left on the picture below).
"This loan reaffirms the CEB's ongoing commitment to strengthening inclusive growth and social cohesion in Europe," said CEB Governor Rolf Wenzel (right on the picture below). "Social housing, education, and public infrastructure development, including energy efficiency measures, are among our priority areas of operation. We welcome this cooperation with BNG Bank, which will help to ensure that CEB funds have a high social impact in the Netherlands," he continued.
CEB: Set up in 1956 as a major instrument of solidarity in Europe, the Council of Europe Development Bank (CEB) today has 41 member states. The Bank finances social projects by making available funds raised in conditions reflecting its excellent rating. It grants loans to national governments, financial institutions, and local authorities in its member states for the financing of projects in the social sector, in accordance with its social mandate.
BNG Bank is a committed partner for a sustainable society. Based on its excellent ratings, it supports government policy by extending low cost financing to, amongst others, municipalities, housing corporations and healthcare institutions. With a balance sheet of approximately EUR 150 billion, BNG Bank is the fourth biggest bank in the Netherlands.