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Council of Europe Development Bank

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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
Banque de Développement du Conseil de l'Europe
Founded1956; 68 years ago (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

The Council of Europe Development Bank (CEB, French: Banque de Développement du Conseil de l'Europe) is a multilateral 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]

Its origins go back to 1956 when the Council of Europe created its Resettlement Fund for National Refugees and Over-Population in Europe (French: Fonds de rétablissement du Conseil de l'Europe pour les réfugiés), which was renamed as the Council of Europe Social Development Fund (French: Fonds de développement social du Conseil de l'Europe) in 1994 and eventually as the CEB in 1999. Since 1956, the bank has been headquartered at 55, avenue Kléber in Paris. It is a separate legal entity from the Council of Europe 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]

CEB formally uses both the French and English languages. English largely replaced French as internal working language in the 2010s.[citation needed]

History

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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

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CEB member states:
  founder members
  members
  members who are not part of the Council of Europe

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.

Governors

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  • Raphael Alomar (1999-2011), previously head of the Council of Europe Resettlement Fund (1993-1994) and Social Development Fund (1994-1999)[9][10]
  • Rolf Wenzel (2011-2021)[11]
  • Carlo Monticelli (from 2021)[11]

See also

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References

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  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.
  9. ^ François Krug (15 November 2016). "Règlements de comptes à la banque sociale de l'Europe". Rue89.
  10. ^ Rapport du Gouverneur 2014 (PDF), CEB Bank, p. 57
  11. ^ a b "CEB appoints Carlo Monticelli as new Governor". Council of Europe. 16 June 2021.
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