This makes the CEB an InvestEU implementing partner and will mobilise around €500 million in additional loans for social projects. It represents an important milestone, as this is the first time InvestEU is supporting the investments of a multilateral development bank with an exclusively social mandate. The guarantee agreement will unlock significant investments under the InvestEU “social investment and skills” and “sustainable infrastructure” windows. This includes social, affordable and student housing; education, employment, and skills; health care, long-term care and social care; as well as clean and smart urban mobility, water and wastewater services, and flood protection. The portfolio of projects covered by this InvestEU guarantee will also support cross-cutting objectives such as gender equality and the social and economic inclusion of vulnerable groups, including persons with disabilities. The first operations under the agreement are expected to be approved over the course of 2023.