News
CEB Governor in Estonia on an official visit
23 March 2017
This morning Mr Wenzel and the CEB delegation were received by Estonia’s Minister of Finance, Sven Sester, in Tallinn. The Governor then attended a meeting with the Director General of External Economic and Development Cooperation, Juri Seilenthal. In addition to exchanging views on current economic affairs, they discussed Estonia’s public investment needs and the CEB’s mandate and role in advancing social cohesion in Europe. They also considered possible ways in which the CEB and Estonia might cooperate in the future.
Governor Wenzel said: “I thank the Estonian government for their hospitality and the exchange of views on cooperation with the CEB. Today I had the opportunity to outline to Mr Sester and Mr Seilenthal, in consecutive meetings, the work of the Bank in terms of advancing social integration in Europe through the financing of projects in a variety of sectors, including health, education and social housing.”
“I also explained that, as a major instrument of European solidarity, the Bank does important work in supporting vulnerable population groups, including minorities. I hope that the CEB will become a close partner of Estonia in its significant efforts to promote social development,” he concluded.Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook stable and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.