(MENAFN) The Council of Europe Development Bank (CEB) on Friday inked a contract with Poland to supply a high of €450 million (USD474.5 million) loan to back more than 4 million Ukrainian refugees in the nation.
According to an announcement published by the EU financial institution the loan arrangement was inked by CEB Governor Carlo Monticelli and Polish Finance Minister Magdalena Rzeczkowska.
Monticelli stated that "The size of the loan that we signed today demonstrates CEB's unequivocal determination to support Poland timely and effectively to overcome an unprecedented economic challenge and a human tragedy.”
He also stated that "In that respect we are very pleased that our loan is designed to address the evolving needs of displaced people and their host communities, involving both government institutions and civil society."
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