News
CEB hosts meeting on Western Balkans Investment Framework
16 December 2015
The Steering Committee meeting was co-chaired by Adolfo Di Carluccio from the Italian Ministry for Economy and Finance, and Katarina Mathernova, Catherine Wendt from the European Commission. Carlo Monticelli, CEB Vice-Governor for Financial Strategy, opened the session.
The WBIF serves as a platform for cooperation, allowing donors, IFIs and beneficiary countries to seek financing solutions in an increasingly difficult environment. The participants took stock of 2015 activities, with a particular focus on the finalisation of the new WBIF operational framework.
The WBIF finances investment projects to improve infrastructure, foster socio-economic development and speed up EU accession in the Western Balkans. It is a joint initiative of the EU, International Financial Institutions (IFIs), bilateral donors and the governments of the Western Balkan countries. The initiative matches grants and loans for the funding of projects that are implemented by the participating IFIs.
In 2008 the CEB became one of the founding members of the WBIF. To date, the Bank has approved 19 projects supporting the objectives of the WBIF, with a loan value close to € 500 million and a total project value of almost € 1 billion.
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 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.