NRW.BANK and CEB sign additional loan to finance accommodation for refugees

PARIS/DUSSELDORF - The Council of Europe Development Bank (CEB) and NRW.BANK signed today a €125million loan agreement as part of their joint financing efforts to improve accommodation for refugees in North Rhine-Westphalia, which is Germany's most populous federal state.

The new CEB loan complements an initial €200 million loan signed exactly two years ago on 4 July 2023, and brings the total loan amount to €325 million, enabling total co-financed investments of at least €650 million financed by NRW.BANK, which is the promotional bank of North Rhine-Westphalia. The funds will be available to municipalities in North Rhine-Westphalia at favourable rates for the acquisition, construction and modernisation of accommodation for refugees, notably from Ukraine.

"With this new loan agreement, we are continuing our long-standing and reliable partnership with CEB," said Gabriela Pantring, Deputy Chairwoman of the Managing Board of NRW.BANK. "The funds will help us to further strengthen NRW.BANK's refinancing base and provide low-interest promotional loans to municipalities in North Rhine-Westphalia. This will enable cities and municipalities to modernise and expand their social infrastructure - and shape a liveable future in their local areas."

"The strides municipalities in North Rhine-Westphalia have made in the past few years in securing decent, safe accommodation for refugees and other vulnerable groups, and promoting integration in these challenging times, have been impressive", said CEB Vice-Governor for Social Development Strategy, Johannes Boehmer. "As the social development bank for Europe, the CEB is honoured to strengthen our partnership with NRW.BANK by contributing more to this vital social endeavour."

NRW.BANK and CEB have enjoyed a productive partnership in promoting social investment since 2009, with initiatives in sectors such as education and social housing. The latest CEB-NRW.Bank loan agreement marks a continuation of their joint efforts to address the challenges posed by displaced populations since Russia's brutal aggression against Ukraine in 2022, and comes ahead of the Ukraine Recovery Conference, taking place in Rome, Italy, on 10-11 July 2025.

For more information, visit www.nrwbank.com and www.coebank.org.

Media contacts:

Caroline Fischer, NRW.Bank Press Officer, Phone: +49 211 91741-1847; Email: [email protected]

Rory Clarke, CEB Communication Unit, Phone +33 7 85 99 77 41, e-mail: [email protected]