The social development bank in Europe


CEB Governor meets with Slovak Minister of Finance in Paris

30 May 2018

Rolf Wenzel and Peter Kažimír
Rolf Wenzel and Peter Kažimír
PARIS – The Governor of the Council of Europe Development Bank (CEB), Rolf Wenzel, today welcomed the Deputy Prime Minister and Minister of Finance of the Slovak Republic, Peter Kažimír, to the CEB’s headquarters. Discussions focused on bilateral cooperation and on the upcoming annual CEB Joint Meeting hosted by the Slovak Republic in Bratislava on 14-16 June. 

Mr Wenzel and Mr Kažimír had an exchange of views on ongoing and future cooperation. The Governor expressed his satisfaction with the excellent relations between the Bank and the Slovak Republic and with the progress of ongoing CEB operations in the country. 

“I offered to Minister Kažimír the CEB’s support for possible future projects as a way of expanding further the cooperation between the Bank and the Slovak Republic,” said the Governor. “We are very pleased that this year’s Joint Meeting of the CEB will be taking place in Bratislava, a capital city which has been experiencing remarkable development and exemplifies the positive impact of CEB support to its member countries in terms of strengthening social development and improving living conditions.” 

Mr Kažimír highlighted the importance of solidarity for strengthening economies and addressing challenges such as climate change and changes in labour markets and education systems. “The CEB remains a key partner and a crucial player in our joint pursue to boost the financing of social projects aimed at promoting solidarity across Europe,” he stressed. “We look forward to hosting the CEB Joint Meeting in Bratislava,” he added. 

The Slovak Republic, a CEB member since 1998, has had over €1.2 billion in loans approved by the Bank for social projects. The sectors which have benefited the most from CEB financing are urban and rural modernisation, protection of the environment, job creation and preservation, social housing, and education. 

In 2016, the Slovak Republic established the Slovak Inclusive Growth Account (SIGA) at the CEB in order to finance technical assistance to CEB target countries, thereby supporting the CEB's goal of promoting inclusive growth and environmental sustainability. One of the first donors to the CEB’s Migrant and Refugee Fund (MRF), the Slovak Republic made a contribution to the MRF shortly after the Fund was established in October 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.

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