A defining year: Message of the Governor

2025 was a defining year for the CEB. It was a period during which the Bank’s international profile was visibly enhanced, moving from the wings to centre stage by assuming the rotating Chair of the Heads of Multilateral Development Banks (MDBs) Group. Leading such a high-level global forum, whose aim is to work as a system to achieve greater scale and impact for members, was both an honour and an opportunity, which the CEB seized with telling results.

Message of the Governor

Strengthening Europe’s social fabric

For the CEB, 2025 proved to be another defining year, characterised by steadfast delivery on its commitment to strengthening social cohesion in Europe, while demonstrating leadership on the global stage by chairing the Heads of Multilateral Development Banks (MDBs) Group for the first time. Find out more.

Key figures 2025
Loans approved

54 projects

4.5 bn

in 26 countries

Target Group

31 projects

2.2 bn

15 countries

Trust funds

21 mn from EU

€23 mn

152 mn loans guaranteed

Bond issuances

18 issuances

€5.9 bn

2.6 bn in SIBs

CEB Strategic Framework in action: Projects approved in 2025

The CEB’s loan approvals of €4.5 billion across 54 new loan projects in 2025 were in line with the Strategic Framework, which sets forth three lines of action for the CEB’s operations over five years:

These lines of action incorporate three cross-cutting themes of gender, climate change and digitalisation.

Map of CEB projects

In 2025, the CEB approved 54 projects for a total volume of €4.5 billion across 26 countries. A total of 36 projects were completed in the same year, with loan disbursements of €3.7 billion in 20 countries. These projects are estimated to have benefited over 26 million people through improved social infrastructure, while enabling some 383 thousand jobs to be created or maintained. See our map.

Boosting the CEB’s social impact across Europe with InvestEU

The InvestEU Programme is a strategic EU flagship initiative for 2021-2027, designed to support investment in sustainable growth, innovation and social cohesion. It allows the CEB to reach a larger number of counterparts by reducing their risk profile, strengthening project preparation, and enhancing the capacity of public and private promoters.

The strength of microfinance

Microfinance is a CEB priority under its Strategic Framework 2023-2027 and a key instrument for promoting financial and social inclusion across Europe. The CEB’s main approach is to support start-ups and microenterprises through specialised microfinance providers.

Previous CEB Annual Reports

The CEB Annual Report 2025 appeared formerly as Report of the Governor. It was renamed from the 2025 edition:

Report of the Governor 2024

Report of the Governor 2023

Report of the Governor 2022