CEB Approves Total of 156.7 Million Euro Loan to Albania, North Macednonia, Romania

The Council of Europe Development Bank (CEB) said it has approved a total of 156.7 million euro loan to Albania, North Macedonia and Romania.

The 27 million euro loan to Albania will co-finance the establishment of information and communication technology (ICT) laboratories, or “Smart Labs”, in more than 600 schools across the country, benefitting around 150 000 children, CEB said in a statement.

The 50 million loan to the Development Bank of North Macedonia (DBNM) seeks to promote job creation by partially funding DBNM’s lending through accredited commercial banks to at least 250 eligible Micro, Small and Medium Enterprises (MSMEs) for both investment and working capital, the statement added.

The 26.7 million loan to the Romanian Municipality of Bacau will partly finance its priority investment programme designed to improve the quality of life of its citizens, CEB said, adding that the loan will also support the renovation of three national colleges.

Another 53 million euro loan to Bucharest Sector 5 will support a multipurpose social investment programme designed to improve living conditions for 300,000 inhabitants.