Council of Europe Development Bank

The Council of Europe Development Bank (French: CEB, Banque de Développement du Conseil de l'Europe) is a development bank, granting loans to member states to help disaster victims, help with job creation, and improve social infrastructure. As of 2020, its assets stood at 28 billion euros, which it uses to co-finance projects by means of loans of up to 40% of the project cost.[2]

Not to be confused with the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), or the European Development Fund.
Council of Europe Development Bank
Founded1956 (1956)
TypeInternational financial institution
Location
Members
43 member states
Governor
Carlo Monticelli[1]
Websitewww.coebank.org
Formerly called
Resettlement Fund for National Refugees and Over-Population in Europe

Situated in Paris, the Bank is a separate legal entity and is autonomous in its decision-making. It has a high credit rating from Moody's,[3] Standard and Poor's[4] and Fitch Ratings.[5]

History

The CEB dates from 1956, when the Council of Europe established the Resettlement Fund for National Refugees and Over-Population in Europe as a Partial Agreement. In 1994, it changed its name to the Council of Europe Social Development Fund, before becoming the Council of Europe Development Bank in 1999.[6]

The original aim was to help refugees and other displaced persons after the Second World War. It later expanded its scope of activities to include assistance to disaster victims, help with job creation, and improve social infrastructure. Its aim today is to promote social cohesion in its member states.[7]

Membership

There are currently 43 member states, as follows:

Except for the Holy See and Kosovo, all member states are also members of the Council of Europe.

See also

References
  1. "Governor Carlo Monticelli". Council of Europe Development Bank. Retrieved February 18, 2023.
  2. "Key figures | CEB". www.coebank.org. Retrieved 2021-05-21.
  3. Reuters
  4. "TEXT – S&P cuts Council of Europe Development Bank". Reuters. Archived from the original on 2023-06-14.
  5. fr:Fitch Ratings
  6. Social Development Fund: Decision concerning the change of the name of the Institution
  7. Activities and orientations of the Council of Europe Development Bank (CEB): Recommendation 1818 (2007)1 of the Parliamentary Assembly of the Council of Europe
  8. "Ukraine joins the CEB". coebank.org. 16 June 2023. Retrieved 19 June 2023.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.