News
CEB Governor and Council of Europe Secretary General reaffirm strategic partnership to promote social inclusion in Europe
19 January 2022
STRASBOURG – On his first official visit as the
Governor of the Council of Europe Development Bank (CEB) Carlo Monticelli met
with the Secretary General of the Council of Europe, Marija Pejčinović-Burić, to discuss the strategic partnership to promote social inclusion in Europe.
The CEB was established in 1956 by eight member states of the Council of Europe on the basis of a partial agreement in order to bring solutions to the problems of refugees. It remains the only European financial institution with an exclusively social mandate and promotes the values and principles of the Council of Europe - human rights, democracy, and the rule of law - through its financial activities.
The promotion and protection of social rights throughout Europe, in line with the European Social Charter, has been fundamental to the Council of Europe’s work since the 1960s. Through its lending activities the CEB supports member countries in putting these rights into practice.
“The values of the Council of Europe are firmly built in the CEB’s mandate and they are reflected in every project that the CEB finances,” Governor Monticelli emphasized. “Our projects are focused on safeguarding the right to education, vocational training, decent work, and housing, especially for those most vulnerable. With the social sector currently under acute strain, our privileged partnership with the Council of Europe and our common goal of strengthening social cohesion across Europe has never been more important.”
"The Council of Europe Development Bank promotes our value and principles, as well as enhancing social cohesion through its lending activity. It is one of the priorities of my mandate to strengthen social rights through the reform of the Social Charter. The Bank plays an important role in improving the conditions of the most disadvantaged population groups, within the overall framework of our Organisation," highlighted Secretary General Marija Pejčinović-Burić.
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.
*unsolicited