The social development bank in Europe


CEB joins global tax transparency forum

3 October 2017

PARIS - The Council of Europe Development Bank (CEB) has been granted observer status at the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.

The Global Forum is an umbrella organisation bringing together 137 countries and jurisdictions to fight international tax evasion through improved international standards of transparency and exchange of information.

The decision of the Global Forum acknowledges the CEB’s firm commitment to fighting fraud, corruption, money-laundering and harmful tax practices.

“Taking into account that the Bank has incorporated the outcomes of the Global Forum’s reviews in its own policy guidelines, this decision is significant because it also reaffirms the CEB’s increasing visibility at the international level and will strengthen our cooperation with the OECD in an important area,” Governor Rolf Wenzel said in his recent address to the Bank’s Administrative Council.

At future plenary meetings of the Forum, the CEB will be represented by Ms Katherine Delikoura, the Bank’s Chief Compliance Officer.

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.