Governing Board approves the Report of the Governor 2013

4 April 2014

PARIS - The Governing Board today approved the Report of the Governor 2013 including the CEB’s financial statements for the year (for key figures see table below).Key figures 2013

Net profit in 2013 reached €111 million and was entirely allocated to the Bank’s reserves, thus increasing equity to € 2.5 billion (+9%). To finance its operations, the Bank borrowed a total of € 3.2 billion, thereby maintaining a high level of liquidity.

A total of 38 projects were approved in 2013 amounting to € 2.3 billion, which represents an increase of 26.5% from 2012. 75% of approved projects were aimed at strengthening social integration, mainly through the creation and preservation of viable jobs in MSMEs, 23% at supporting public infrastructure with a social vocation, and 2% at managing the environment.

Loan disbursements totalled € 1.9 billion in 2013, representing an increase of 16.5% from 2012. 51% of loans were in favour of CEB target countries, located in Central, Eastern and South-Eastern Europe. Loans outstanding reached € 12.6 billion at year-end 2013, up by 3.7%.

Aware of the need to adjust to a changing operational context, the CEB adopted a new Development Plan covering the period 2014-2016. Unanimously approved by its Governing Board, the Plan highlights the Member States’ strong support for the Bank and its social mandate at a time when high unemployment rates across Europe remain a major concern.

Last year also saw Kosovo’s accession to the CEB. The country became the Bank’s 41st Member State in November 2013.

By continuing to devise and implement innovative means of action that foster high-value-added investments, in 2013 the CEB further strengthened its partnerships with the European Union, the Council of Europe and the main international financial institutions.

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 (Aaa with Moody's, outlook negative, 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.