CEB establishes Migrant and Refugee Fund

PARIS - Today, at its 294th meeting held in Paris, the Administrative Council of the Council of Europe Development Bank (CEB) approved the establishment of a Migrant and Refugee Fund (MRF), following a proposal by CEB Governor Rolf Wenzel. The purpose of this new trust fund is to support CEB member states in coping with the influx of migrants and refugees.

The MRF will finance in priority reception and transit centres to assist CEB countries in their immediate response to the current crisis. Projects aimed at facilitating the integration of refugees and migrants at a later stage may also receive financing.

The CEB has endowed the MRF with €5 million and is inviting Donors to contribute funds to reach an amount of €20 - 25 million.

Cyprus became the first CEB country to announce a contribution of €100,000 to the MRF. The announcement was made on 16 September by the President of the Republic of Cyprus during the official visit of Governor Wenzel to the country.

“I am pleased that the Administrative Council has approved the establishment of the Migrant and Refugee Fund, which is an important expression of solidarity”, said Governor Wenzel. “The CEB was founded almost 60 years ago as a “Resettlement Fund”, precisely to address the problems associated with migrants, refugees and displaced persons in the aftermath of the Second World War. It is therefore our duty to act on the current migrant and refugee crisis. I would like to take this opportunity to thank all the countries who have expressed their support to the MRF and have pledged contributions so far”, he added.