Loan and Project Financing Policy (November 2016) The overall policy framework for loan and project financing defines the basic principles for the selection and implementation of the CEB’s investment projects. In particular, it sets forth the guidelines given in matters of project financing, on the one hand, by the Bank’s Articles of Agreement (Cf. articles II and XIII of the Articles of Agreement) and, on the other hand, by the different Council of Europe Summits of Head of State and Government. Thus, it successively defines: – the sectors of action – the financial means of action – the mechanisms for approving loan applications and for managing the stock of projects – the financing and monitoring of projects.
These provisions are completed by two implementation documents, namely the “Handbook for the Preparation and Monitoring of Projects” and the “Loan Regulations.”
Procurement guidelines (September 2011) The guidelines detail the principles and methods to be applied when awarding contracts to be financed by CEB loans. Implementing them enables the CEB to meet its fiduciary responsibilities by ensuring that funds are used solely for purposes covered by the loan and that special emphasis is placed on the economic and efficient implementation of the projects it finances. It is recognised that fairness and transparency of public spending are essential to sound governance and sustainability of projects.