News
CEB Governor received in audience by Pope Leo XIV
04 May 2026
VATICAN CITY – Governor Carlo Monticelli was received in audience by His Holiness Pope Leo XIV today, reaffirming the shared commitment of the Council of Europe Development Bank and the Holy See to social cohesion, human dignity and support for the most vulnerable.
A long-standing advocate of the CEB’s mandate to foster social cohesion and inclusion across Europe, the Holy See has been a CEB member state since 1973. The CEB is the only multilateral development bank to have the Holy See as a member.
The Papal Audience occurs nearly one year after the Pontiff’s election on 8 May 2025 and during a milestone year for the Bank, which in 2026 is celebrating 70 years of investing in people, for people. The Governor was accompanied by Vice-Governor for Financial Strategy Sandrine Gaudin, Vice-Governor for Target Group Countries Tomáš Boček, Vice-Governor for Social Development Strategy Johannes M. Böhmer and Director of the Executive Office and Chief of Staff Stefania Bazzoni. Today’s meeting echoes the historic audience granted by Pope Benedict XVI to CEB leadership and management attending the Bank’s 45th Joint Meeting hosted by the Holy See in 2010.
“On behalf of the CEB, I am deeply honoured and grateful for the Holy See’s unflinching support and influence in these uncertain times as we address multiple challenges that risk increasing inequality, exclusion and marginalisation,” Governor Monticelli said.
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from its 43 member countries. The CEB finances investment projects and provides technical assistance in social sectors such as education, health and affordable housing, while focusing on the needs of vulnerable people, as well as on the social dimensions of climate change and the environment. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. The CEB, which has a triple-A credit rating, funds itself through international capital markets. In addition, the CEB receives funds from donors to complement its activities.