CEB Governor in Liechtenstein on an official visit
9 July 2018
PARIS - The Governor of the Council of Europe Development Bank (CEB), Rolf Wenzel, concluded today an official visit to Liechtenstein for meetings with the Government. During his visit, he highlighted the role of the CEB in promoting social cohesion and inclusive growth in Europe.Governor Wenzel met with Liechtenstein’s Deputy Prime Minister and Minister for Infrastructure, Economic Affairs and Sport, Mr Daniel Risch, and with the Minister for Foreign Affairs, Justice and Culture, Ms Aurelia Frick, in Vaduz. In addition to exchanging views on current economic developments of relevance to the Bank, they discussed the CEB’s mandate and role in Europe. They also considered possible ways in which the CEB and Liechtenstein might cooperate in the future.
Governor Wenzel said: “I thank the Government of Liechtenstein for their hospitality and the exchange of views on cooperation with the CEB. Today, in consecutive meetings, I had the opportunity to outline to Mr Risch and Ms Frick the work of the CEB in social development through the financing of projects in a variety of sectors in which European countries have increased investment needs. I also reiterated my thanks to the Government for Liechtenstein’s ongoing support to the CEB and its activities.” Liechtenstein became a member of the CEB in 1976. In a gesture of European solidarity, the country made a contribution to the CEB’s Migrant and Refugee Fund (MRF), which has raised over €25 million for refugee projects in Europe since 2015.
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 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, AA+ with Standard & Poor's, outlook positive and AA+ with Fitch 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.