CEB welcomes Cyprus’ contribution to the proposed Migrant and Refugee Fund
16 September 2015
The announcement was made during a meeting between the Governor of the CEB, Rolf Wenzel, President Anastasiades and the Minister of Finance, Harris Georgiades. Governor Wenzel warmly welcomed this decision and thanked the President for the contribution, which demonstrates Cyprus’ commitment to the values of the Council of Europe.
The proposed Migrant and Refugee Fund, which will be grant-based, will finance reception and transit centres in countries receiving migrants and refugees, and will function as an emergency support instrument. The organs of the CEB will discuss the proposal in the coming weeks. In addition, the CEB’s loan instruments are available to support CEB members.
Cyprus is the first country to make a contribution to the proposed Fund.
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.