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<strong>Dexia</strong>Public/Project Finance and Credit EnhancementSwedenNeworiginations(in millions of EUR)l llllllllllllllllllllllllllllll ll l2004849l llllllllllllllllllllllllllllll ll l<strong>2005</strong>916Long-term<strong>com</strong>mitments(in millions of EUR)l llllllllllllllllllllllllllllll ll l20043,445l llllllllllllllllllllllllllllll ll l<strong>2005</strong>3,597Central andEastern Europe (1)Neworiginations(in millions of EUR)l llllllllllllllllllllllllllllll ll l2004334l llllllllllllllllllllllllllllll ll l<strong>2005</strong>2,680(1) Includes the full entity <strong>Dexia</strong>Kommunalkredit Bank and itstwo subsidiaries in Slovakiaand Poland.Long-term<strong>com</strong>mitments(in millions of EUR)l llllllllllllllllllllllllllllll ll l2004599l llllllllllllllllllllllllllllll ll l<strong>2005</strong>3,060SwedenAt year-end <strong>2005</strong>, total long-term outstanding<strong>com</strong>mitments to the Scandinavian subsidiarywere EUR 3.6 billion against EUR 3.4 billionat year-end 2004.New originations were EUR 916 million, up8% on the end of December 2004, includingEUR 894 million long-term financingintended for local authorities.The subsidiary also developed new operationsin Finland. At the end of December <strong>2005</strong>,amounts outstanding with Finnishcounterparts were EUR 107 million, up78% on year-end 2004. The majority ofamounts outstanding relate to municipalities(52.8%) and municipal and state <strong>com</strong>panies(32.8%). The subsidiary also providedlong-term financing of EUR 40 million tothe municipal <strong>com</strong>pany producing anddistributing energy in the town of Vantaan,as well as the municipalities of Vihti andNurmijärvi. These three municipalities areclose to the capital Helsinki.Central and Eastern EuropeThe year <strong>2005</strong> was marked by the birth of<strong>Dexia</strong> Kommunalkredit Bank. The newsubsidiary based in Vienna, the capital ofwhich is held 75% by <strong>Dexia</strong> Crédit Local(51% directly and 24% indirectly), is intendedto lead the development of <strong>Dexia</strong> in Centraland Eastern Europe.<strong>Dexia</strong> Kommunalkredit Bank holds the <strong>Dexia</strong>participations in the capital of <strong>Dexia</strong> bankaSlovensko (78.98%), the Slovakian subsidiaryand <strong>Dexia</strong> Kommunalkredit Bank Poland(100%), the Polish subsidiary. The latterobtained its banking license during the second68
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