The Council of Europe Development Bank (CEB) has approved two loans of € 300 million, one for the Czech Republic and the other for Italy.
The first will support the Czech government in "furthering its efforts to mitigate the spread and impact of COVID-19 by covering 90% of the total cost required in the immediate term", namely the acquisition of medical material and equipment, including tests, ventilators, and respirators as well as protective equipment for frontline staff. The loan may also cover the rehabilitation and conversion of spaces for medical purposes.
The second loan will help finance the Emergency Fund set up by Italy for the Department of Civil Protection and will support the country's health emergency measures: management and maintenance of healthcare systems, acquisition of sanitary equipment, etc. It may also cover the establishment of emergency facilities and the recruitment of temporary medical staff.
These loans are a testament to the CEB’s commitment and "additional support will be made available in the coming weeks as we are stepping up efforts to curb the impact of COVID-19 on human lives and on the economies of our member countries", said the bank's Governor, Rolf Wenzel. (Original version in French by Véronique Leblanc)