News
Carlo Monticelli takes office as CEB Governor
18 December 2021
PARIS – Following his appointment in June 2021, Carlo Monticelli starts today his five-year mandate as the new Governor of the Council of Europe Development Bank (CEB).
He had previously served as CEB Vice-Governor for Financial Strategy for six years, contributing to the success of the CEB in responding to the social challenges faced by its member countries.
“It is a great honour to become the new Governor of the CEB -- an institution that has championed social development across Europe for 65 years,” Mr Monticelli said. “It is also a great responsibility to lead the CEB at this juncture, when fostering social cohesion faces multiple challenges, from the lasting legacy of the Covid pandemic to the increasingly urgent climate crisis.
The CEB’s social mission is more relevant than ever. I look forward to working with our member countries and all the other stakeholders to help build a stronger, more inclusive Europe for all its citizens.”
Mr Monticelli holds a Ph.D. in Economics from the University of Ancona, and an M.Sc. in Economics from the University of York. He has been a visiting professor in the International Economics Department at the Graduate Institute in Geneva, and a visiting scholar in the Economics Department of the MIT. He has written several papers in peer-reviewed journals and published various books, including Reforming Global Economic Governance for Routledge in 2019.
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 (Aa1 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.
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