The City of Leipzig is to receive a loan of 125 million euros from the Council of Europe Development Bank (CEB) for the expansion of its social infrastructure. The corresponding agreement was signed by Finance Mayor Torsten Bonew (CDU) and CEB Vice Governor Johannes Böhmer, as announced by the development bank. The money will be used to expand and modernize the educational infrastructure and temporary accommodation for refugees and homeless people.
This is the bank's first direct loan to the city. Among other things, new buildings and renovations of schools in socially disadvantaged districts are planned. In total, more than 8,400 pupils are set to benefit. The creation of around 900 temporary accommodations is also planned.
