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CEB publishes 2020 Social Inclusion Bond Report

30 March 2021

PARIS  - The Council of Europe Development Bank (CEB) today published an impact report on its two dedicated COVID-19 Response Social Inclusion Bonds, issued in April and June 2020, respectively. The report provides detailed information on the allocation of the proceeds and social impact of the projects financed.  

In response to the COVID-19 pandemic the CEB quickly extended its Social Inclusion Bond Framework to include projects in the health sector and issued an upsized EUR 1 billion seven-year maturity COVID-19 Response Social Inclusion Bond, followed by a USD 500 million three-year COVID-19 Response Social Inclusion Bond. Both bonds were particularly well received by a diverse range of socially responsible investors.  

In the context of the pandemic the CEB decided to focus on the challenges to Europe’s public health systems as well as on supporting MSMEs. Fifteen projects across 14 countries benefitted from the proceeds of the two social bonds:

  • 28.8 million people received medical care;
  • 83,630 jobs were preserved and 1,404 created.

“The CEB was among the first multilateral development banks to put in place the necessary mechanisms for a timely, flexible and targeted response to the COVID-19 pandemic. We maintained a close dialogue with our member countries, which enabled us to rapidly deploy significant financial emergency support to mitigate the social and economic fallout of the pandemic,” said CEB Governor Rolf Wenzel. 

Download the report

Set up in 1956, the CEB (Council of Europe Development Bank) has 42 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, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook stable and AAA* with Scope 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.
*unsolicited

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