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CEB awarded Social Bond of the Year – Supranational 2023
06 April 2023
The Council of Europe Development Bank wins the “Social Bond of the Year – Supranational Award” by Environmental Finance
Environmental Finance recognised the CEB’s fast contribution to the Ukrainian refugee crisis by awarding the Bank’s 7-year, EUR-denominated Social Inclusion Bond (SIB), issued in April 2022, “Social Bond of the Year” in the Supranational category. For 65 years, the CEB has responded timely and effectively to relieve the suffering and restore the dignity of refugees and migrants, and this award acknowledges the importance of this work and the ability of the CEB to deliver on its unique social mandate.
The proceeds of the SIB will be used by the CEB to finance a portfolio of social investments in its member states to support the longer-term needs and integration of Ukraine refugees as well as those of their host communities. Investments will be targeted to four key sectors: housing for low-income families; health and social care; education and vocational training; and support for the micro, small and medium-sized enterprises that will create stable jobs.
“We are extremely honoured and proud to win the “Award for Social Bond of the Year –Supranational” by Environmental Finance. This award speaks volumes about the importance of the CEB’s prompt, targeted response to the Ukraine refugee crisis and the Bank’s leading role in the social bond market”, says Felix Grote, Head of Long-Term Funding, on behalf of the funding team behind the transaction.
About Environmental Finance and its Bond Awards
Environmental-Finance.com is an online news and
analysis service established in 1999 to report on sustainable investment, green
finance and the people and companies active in environmental markets.
Environmental Finance's Bond Awards seek to recognise those players in the
sustainable bond market that demonstrate thought-leadership, best practice or
innovation. An
independent panel of judges consisting of industry experts – chosen for their
knowledge, objectivity and credibility – select the winners in a secret ballot before
announcing the results on their website.
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