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Governor Wenzel is proposing to set up a new “Migrant and Refugee Fund” at CEB

14 September 2015

PARIS - In response to the unprecedented influx of refugees in Europe the Council of Europe Development Bank (CEB) has launched a new grant facility named "Migrant and Refugee Fund" (MRF) to finance transit and reception centres in affected countries.

The CEB will, pending approval from its governing organs, endow this Fund with € 5 million in seed money. Recognising the need for additional financing, Governor Rolf Wenzel has called on the Bank’s member countries and other potential donors to support the initiative with a grant contribution. The Bank expects to raise an additional € 20 million, which would enable the Fund to provide emergency support.

The MRF’s resources will assist CEB member countries in setting up and operating reception and transit centres. 

The CEB has started engaging with its member states to identify projects and raise additional funds for the MRF. It will also cooperate with organisations working to address the crisis, in particular the Council of Europe, the European Union and the United Nations High Commissioner for Refugees (UNHCR). 

The Bank is also liaising with other financial institutions, in particular the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), as well as relevant non-governmental organisations.

The CEB is uniquely positioned to assist its member countries in addressing the current crisis. Set up in 1956 to help Europe deal with millions of people displaced by WWII, the Bank has a strong expertise in funding and implementing projects benefitting migrants and refugees.

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.

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