The Council of Europe Development Bank approves a €10 million loan to San Marino for health expenses related to the COVID-19 emergency

Last 3 July, the Administrative Council of the Council of Europe Development Bank (CEB) approved six new loans, totalling EUR 326.5 million, to the member countries of this Paris-based multilateral financial institution, in order to help them mitigate the impact of the COVID-19 pandemic emergency, preserve and create jobs and promote other social investments.


Among the member countries benefiting from the above mentioned financing is also the Republic of San Marino, for which a long-term loan of up to EUR 10 million at a subsidised rate has been approved in order to support the country's efforts in the management of the COVID-19 health crisis, through the co-financing of medical supplies and investments of the State Hospital.  


The above loan, whose rate could be less than 0.5% and with a duration of up to 15 years, will make it possible to cover part of the medical expenses incurred by the Social Security Institute, as well as future expenses to deal with the emergency for medical supplies and diagnostic tests, as well as to improve the Republic's hospitalisation capacity.


The Republic of San Marino has been a member of the Council of Europe Development Bank since 1989, with a shareholding of 0.089%, and is represented in the Governing Board by Ambassador Sylvie Bollini and in the Administrative Council by Mr. Nicola Ceccaroli.



4 July 2020


Republic of San Marino

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