CEB Governor meets with Luxembourg’s Minister of Finance

16 May 2014

PARIS - The Governor of the Council of Europe Development Bank (CEB), Rolf Wenzel, today met with the Minister of Finance of Luxembourg, Pierre Gramegna, and the Ambassador of Luxembourg to France, Paul Duhr, at the Bank’s Headquarters in Paris.

Discussions focused on bilateral cooperation between Luxembourg and the CEB and also on the activities and perspectives of the Bank. The Governor thanked Mr. Gramegna for Luxembourg’s generous contribution to the multi-donor Fund of the Regional Housing Programme, which is managed by the CEB (www.regionalhousingprogramme.org).

“I was very pleased to meet with Minister Gramegna and Ambassador Duhr”, said Governor Wenzel. “Our meeting today reaffirmed the excellent relationship between the Bank and Luxembourg, which is one of the CEB’s founding member countries.”

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 (Aaa with Moody's, outlook negative, AA+ with Standard & Poor's, outlook stable 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.