The Administrative Council of the Council of Europe Development Bank (CEB) recently approved 10 new lending projects, four of which aim to directly or indirectly benefit migrants and refugees. Amongst these projects, a €100 million loan in France will part-finance the acquisition and rehabilitation of obsolete hotels and residences to accommodate asylum seekers and other vulnerable groups. Additionally, a €100 million loan in Spain will part-finance lending to microbusinesses and individuals, such as immigrants and other persons with limited access to credit, with the aim of creating jobs and enhancing social cohesion.
Furthermore, a €500 000 grant from the CEB’s Migrant and Refugee Fund financed the refurbishment of a former hotel and a closed factory into reception centres capable of providing safe shelter for migrants, refugees and asylum seekers in Serbia. The reconstruction works, which included installing sanitary facilities and providing necessary equipment, were carried out in cooperation with the International Organisation for Migration (IOM) and in line with international standards.