News
CEB Governor in Lithuania for talks with the government
24 March 2017
On 23 March Governor Wenzel had a meeting with the Minister of Finance, Vilius Šapoka, with whom he exchanged views on the progress of CEB operations in Lithuania and also on potential new social projects. He also met with the Vice-Minister of Foreign Affairs, Neris Germanas.
Both sides underlined the strong partnership between Lithuania and the CEB and discussed the further strengthening of cooperation in the years to come. Governor Wenzel said: “The CEB and Lithuania maintain a fruitful cooperation in several areas, and we are looking at ways in which we can continue and also enhance this partnership. As Lithuania is currently developing a number of important state programmes, the CEB is ready to be involved as a reliable partner in social sector investments, including public infrastructure projects.”
Lithuania became a member of the CEB in 1996 and since then has had eleven loans for social projects approved, worth a total of € 265 million. The areas which have received the greatest share of CEB financing are urban and rural modernisation, education and vocational training, administrative and public services, and health. Further projects are currently being developed in the areas of environmental protection and urban modernisation.
In an expression of European solidarity, Lithuania donated in November 2015 € 150 000 to the CEB’s Migrant and Refugee Fund (MRF), a grant-based facility set up in October 2015 to help its member states tackle the migrant and refugee crisis.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.