CEB appoints Carlo Monticelli as new Governor

11 June 2021

At its 229th meeting held today by videoconferencing, the Governing Board of the Council of Europe Development Bank (CEB) appointed Mr Carlo Monticelli to the post of Governor, effective from 18 December 2021 for a five-year mandate.

Mr Monticelli, an Italian national, has been serving as CEB Vice-Governor for Financial Strategy since November 2015. In this capacity he contributed to the success of the CEB in responding to the social challenges Europe is facing. He will be succeeding Rolf Wenzel, who joined the Bank as Governor in 2011.

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 stable 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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