The social development bank for Europe


Financial Results as at 30 June 2021

13 October 2021

Paris - The half-year report “Condensed Interim Financial Statements as at 30 June 2021” of the Council of Europe Development Bank (CEB) is now on line.

According to its unaudited half-year financial statements, published in compliance with IAS 34 Interim Financial Reporting standard, the CEB has experienced an intense level of activity, comparable to that of last year, and has attained a sound operational performance by providing considerable financing to assist its member states in mitigating the health, economic and social consequences of the COVID-19 pandemic.

The stock of projects approved awaiting financingamounted to € 9.4 billion as at 30 June 2021, compared to € 9.5 billion as at 31 December 2020. A total of 38 new projects worth € 2.5 billion were approved in the first half of 2021, compared to 37 projects worth € 4.8 billion for the same period last year. Disbursements on 59 loans were made for an amount of € 2.4 billion, compared to 51 loans for € 2.4 billion for the same period last year.

The CEB’s unaudited net profit for the first half of 2021 amounted to € 51.7 million, i.e. an increase of 67.4% compared to the same period in 2020 (€ 30.9 million), mainly due to the positive variation in the cost of risk (+€ 17.8 million) and to the positive impact in the valuation of financial instruments (+€ 2.9 million).

The CEB’s total assets reached € 31.9 billion, an increase of 14.2% from € 28.0 billion at 31 December 2020.

Since the beginning of 2021, the CEB has issued two Social Inclusion Bonds: a € 500 million 7-year Social Inclusion Bond in April and a USD 500 million 3-year global Social Inclusion Bond in June, both with strong demand from socially responsible investors.

Equity increased by 1.8% since 31 December 2020 (€ 3 132.1 million) to reach € 3 187.5 million.

CEB’s prudential ratios remained within their respective limits.

Key figures at 30 June 2021
(*) Unaudited

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 positive 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.

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