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Chairpersons of CEB governing organs elected

1 December 2017

PARIS – The Governing Board of the Council of Europe Development Bank (CEB) today re-elected Dominique Lamiot as Chair of the Governing Board and elected Miglė Tuskienė as Chair of the Administrative Council. 

Mr Lamiot, who is a French national, was re-elected for a second three-year term as Chair of the Governing Board. The Governing Board sets out the general direction of the Bank's activity, decides on capital increases, and approves the annual report, the accounts and the Bank's general balance sheet. It also elects its own Chair and the Chair of the Administrative Council and appoints the Governor and the members of the Auditing Board. 

At the same meeting, the Governing Board also elected Miglė Tuskienė as Chair of the Administrative Council for a three-year term. Ms Tuskienė, a Lithuanian national, has been serving as Lithuania’s Vice-Minister of Finance since August 2017. She has previously held other senior posts in the Ministry of Finance of Lithuania and with the Permanent Representation of Lithuania to the European Union. 

The Administrative Council of the CEB exercises the powers delegated to it by the Governing Board, establishes and supervises operational policies, approves investment projects submitted by the governments, and votes on the Bank's operating budget.

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.