European partners celebrate HERO pilot project achievements

Brussels - A final conference held yesterday marked the conclusion of the Housing and Empowerment for Roma (HERO). Funded by the European Union and implemented by the Council of Europe Development Bank (CEB), this pilot project deployed innovative financial instruments to improve inclusion for vulnerable Roma communities in Bulgaria, Romania, and the Slovak Republic.

Launched in 2021, HERO combined capacity-building initiatives, including support for labour market integration, with a risk-mitigating mechanism encouraging financial intermediaries to provide microloans for housing purposes. This integrated approach sought to enhance economic opportunities and expand access to sustainable housing solutions for Roma communities.

HERO was funded through a €2.8 million contribution from the European Union (EU), supplemented by an additional €200,000 from Spain via a trust fund managed by the Council of Europe Development Bank (CEB).

Yesterday's final conference convened key stakeholders, including representatives from the European Parliament, the European Commission, the CEB, HERO implementing partners from Bulgaria, Romania and the Slovak Republic and organisations working with Roma communities. Participants emphasised the critical need for continuous investment to develop sustainable housing solutions and spoke about the importance of expanding access to tailored financial services and products for Roma. Collaboration across sectors was identified as essential for designing integrated, long-term solutions, as was the active participation of Roma communities.

During his opening remarks, member of the European Parliament Tomáš Zdechovský - who initiated HERO as a Pilot Project - underscored the importance of the HERO project, stating: "HERO is a clear example of how targeted housing and financial support can break the cycle of exclusion for Roma communities. By working hand-in-hand with local partners in Slovakia, Romania, and Bulgaria, the project has given families a real chance at a safer and more stable future. I am proud to have supported this initiative in the European Parliament and will continue pushing for practical solutions that deliver lasting change on the ground."

Addressing the conference participants, Witold Willak, representing DG ECFIN at the European Commission, emphasized: "Against the backdrop of Europe's increasing housing affordability challenges, HERO aspires to pave the way for an innovative approach of true empowerment

of Roma, striving for better housing conditions and greater inclusion."

Julianna Hyjek, Head of EU Programmes and New Instruments at the CEB, remarked: "Access to finance is not just a means for economic growth; it is a pathway to securing fundamental rights and improving living conditions for marginalised communities, including Roma. Through projects like HERO, we demonstrate how financial inclusion and microfinance can break the cycle of poverty, unlock opportunities and pave the way for greater social and economic integration. By investing in Roma communities, the CEB is not only empowering individuals but also strengthening the fabric of our societies as a whole."

The impact of HERO will extend beyond its closure, with its many lessons serving as a blueprint for future social and financial policies and programmes. For more information, please view our HERO Brochure.

For further information, please contact:

Daniela Aydin

[email protected]

The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.