Governing Board approves the Report of the Governor 2015

PARIS - Today, at its 213th meeting held in Paris, the Governing Board of the Council of Europe Development Bank (CEB) approved the Report of the Governor 2015, including the CEB’s financial statements for the year.   

The CEB was successful in reaching the business targets set for the second year of its Development Plan 2014-2016. 

Net profit in 2015 reached € 127.0 million, the second highest profit in the Bank’s history, after € 134.4 million in 2014. An amount of € 120 million was allocated to the Bank’s reserves, thereby increasing equity to € 2.7 billion (+ 6.2%), and € 7 million were apportioned to the Social Dividend Account.

In 2015, a total of 22 projects were approved amounting to € 2.3 billion. 38% of this amount was aimed at strengthening social integration, 30% at managing the environment, 17% at supporting public infrastructure with a social vocation, and 14% at supporting micro, small and medium-sized enterprises. At year-end 2015, the stock of projects amounted to € 4.7 billion, 72% of which are destined for target group countries.

Loan disbursements totalled € 1.8 billion, with 61% of loans benefiting CEB target group countries. To finance its operations, the Bank borrowed a total of € 3 billion, thus maintaining an appropriate level of liquidity. Loans outstanding reached € 13.1 billion at year-end 2015.

In 2015, the CEB further strengthened its cooperation with other institutions, the European Union and donor countries. In an immediate response to emergency situations arising from the migrant and refugee crisis, the Bank established the Migrant and Refugee Fund (MRF), showing strong responsiveness in support of CEB member states affected by the crisis.