News

Carlo Monticelli reappointed as CEB Vice-Governor for Financial Strategy

10 July 2020

PARIS – The Governing Board of the Council of Europe Development Bank (CEB) has reappointed Mr. Carlo Monticelli as Vice-Governor for Financial Strategy.

Mr. Monticelli, an Italian national with higher degrees from the Universities of Ancona and Oxford, was appointed Vice-Governor for Financial Strategy in April 2015 and began his five-year mandate on 1 November 2015. Before joining the CEB, he served for more than a decade at the Italian Treasury, representing Italy in a wide spectrum of international fora and institutions, including as EFC member, G7 Deputy, G8 Financial Sous-Sherpa, G20 Deputy, IMFC Deputy, FSB member and OCDE WP3 member.

In his capacity as CEB Vice-Governor for Financial Strategy, Mr. Monticelli will assist the CEB Governor in, amongst others, monitoring the Bank’s issuance policy and its financial management as well as in ensuring high-level coordination with member states on matters relating to capital. In addition, Mr. Monticelli will lead working groups involving several CEB Directorates on subjects concerning the Bank’s financial strategy. The new mandate is for a term of five years as from 1 November 2020.

CEB Governor Rolf Wenzel said: “I congratulate Mr. Monticelli on his confirmation and look forward to continuing working with him during these rather challenging times for Europe.  The CEB, as a social development bank, has an important role to play in supporting its members during the crisis and in the recovery period and I am sure Mr. Monticelli will make a significant contribution to ensuring that this role is duly fulfilled.”

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 (AA+ with Fitch Ratings, outlook positive, AAA with Standard & Poor's, outlook stable and Aa1 with Moody's, 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.