3rd Ukraine Ministerial Roundtable IMF-WBG Spring Meetings, Washington D.C. (12 April 2023)

13 April 2023

As prepared for Delivery

Dear Prime Minister Shmyhal
Dear Minister Marchenko
Dear Managing Director Georgieva
Dear President Malpass
Dear Ladies and Gentlemen

I am delighted to be among you today for this 3rd ministerial roundtable, representing the Council of Europe Development Bank (CEB).

The CEB’s support to Ukraine is one of the overarching goals of the Bank’s new Strategic Framework 2023-2027, which our shareholders approved last December, providing the necessary financial resources for operations.

Following these decisions, the CEB is already in a position to initiate activities in Ukraine, as soon as the ongoing process of membership is completed. Our support to Ukraine will increase gradually: from about €200 million per year to €400 million by 2027.

To be fully operational from day one, the CEB has been closely coordinating with the Ukrainian authorities and the peer institutions. Indeed, we are already cooperating for the provision of parallel financing under the umbrella of the World Bank’s framework operation for urgent support to the health sector.

Given our social mandate and expertise, in addition to health, we will engage in other social sectors where needs are pressing, such as housing.

The CEB will also continue supporting the people of Ukraine who have sought hospitality in our member countries. We will make further resources available in addition to the €1.3 billion in loans and grants we provided in 2022. This was equivalent to about one third of our total volume of activity for the year – a self-evident testimony of the CEB’s commitment to stand side by side with the Ukrainian people.

Set up in 1956, the CEB (Council of Europe Development Bank) has 42 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 (Aaa with Moody's, outlook stable, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook positive and AAA* with Scope 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.
*unsolicited