Germany announces € 3 million contribution to Migrant and Refugee Fund
6 October 2015
PARIS – The Council of Europe Development Bank (CEB) welcomed Germany’s announcement that it was contributing € 3 million to the Bank’s newly established Migrant and Refugee Fund (MRF). Following a proposal by Governor Rolf Wenzel, CEB member states unanimously approved the MRF at the Administrative Council meeting of 2 October 2015.
Set up to assist CEB member countries in their immediate response to the migrant and refugee crisis, the MRF will finance in priority reception and transit centres. Projects aimed at facilitating the integration of migrants and refugees may also receive financing.
The CEB endowed the MRF with € 5 million and invited donors to contribute funds with a view to reaching an amount of € 20 - 25 million.
Germany’s contribution was announced by the Federal Minister for Foreign Affairs Frank-Walter Steinmeier, who stated: “The current refugee crisis represents a great challenge for Europe. It is all the more important, therefore, that all member states who are able to assist do their utmost, within the scope of their capacities, to overcome the crisis.”Governor Wenzel welcomed the announcement and expressed his expectation that other CEB member states would follow suit. “On behalf of the CEB, I would like to thank the German government for this important contribution, which confirms the strong support that the MRF has received from its inception. I hope that other donors will show their solidarity by contributing funds to this new CEB trust fund”, he said.
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.