The Council of Europe Development Bank (CEB) is a multilateral development bank focused on social investment in Europe, and this Moldova project shows its role in financing and coordinating affordable and social housing interventions for vulnerable groups.12 In the Republic of Moldova, the CEB is backing a project that will convert 32 existing buildings into social, retirement, and student housing, reflecting a broader response to a long-running housing affordability crisis that has been worsened by rising energy costs.1
The project is explicitly structured around both housing access and energy efficiency. According to the CEB, the total project cost is €34 million, including a €20 million loan from the Bank, a €1 million grant from the CEB’s Green Social Investment Fund, and a €6 million grant secured in 2024 from the Eastern Europe Energy Efficiency and Environment Partnership.1 The Bank also provided technical assistance, financed by Spain through the Spanish Social Cohesion Account, to help Moldovan authorities prepare the project.1
More broadly, the CEB uses donor funds and concessional finance to support projects that address basic social needs such as housing, education, and healthcare across member countries.2 In this Moldova case, the emphasis is not only on increasing housing supply but also on improving living conditions and reducing CO2 emissions through energy-efficiency upgrades, linking social housing policy with sustainability goals.12
The organisation is headquartered in Paris, France, and its housing work is geographically focused on Europe, especially CEB member states and neighbouring countries participating in donor-funded social projects.27