Council of Europe Bank approves loans to 11 countries, including Serbia

The Council of Europe Development Bank (CEB) approved loans totalling 1.3 billion euros to 11 countries, including Serbia.

These loans aim to address critical social issues such as microfinance, healthcare, education, and post-disaster reconstruction. Among the projects approved are loans to support economically vulnerable women-led businesses in Bosnia and Herzegovina, fund the construction of healthcare facilities in Finland, improve drinking water access in France, enhance education infrastructure in Germany and Iceland, support micro-enterprises in Poland, provide finance to rural businesses in Serbia, contribute to social infrastructure in Slovakia, improve healthcare services in Spain, aid post-earthquake recovery efforts in Turkey, and bolster Ukraine’s compensation mechanism for destroyed residential housing. 

“A €6 million loan to 3Bank Joint Stock Company based in Novi Sad will help support rural businesses and farmers in remote areas while addressing microfinance gaps in Serbia. The loan targets smallholder farmers, underbanked microentrepreneurs, solo female entrepreneurs, start-ups, and small traders. The CEB’s financing fills critical gaps in Serbia’s microfinance sector, vital for business growth, job creation and inclusive development. By tackling issues like emigration and brain-drain stemming from limited self-employment opportunities and lower living standards, the CEB’s loan provides significant social value”, the Bank’s press release says.

The loan was approved just days after Serbian President Aleksandar Vucic said that granting Kosovo membership in the Council of Europe meant Serbia’s expulsion from the organization.

(N1, 26.03.2024)



This post is also available in: Italiano

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