Governor Wenzel in Cyprus for EBRD Annual Meeting

11 May 2017

NICOSIA - The Governor of the Council of Europe Development Bank (CEB) Rolf Wenzel was in Nicosia, Cyprus, on 9-11 May, to attend the 2017 Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD).

Governor Wenzel participated in a high-level meeting chaired by EBRD President Sir Suma Chakrabarti to discuss ways of supporting the Cypriot economy in the event of a successful outcome of reunification talks. Also taking part in the meeting were representatives of the European Commission, the World Bank, the International Monetary Fund, the European Investment Bank, and the United Nations, alongside EBRD representatives and the chief negotiators of the Greek Cypriot and Turkish Cypriot community.

In the margins of the EBRD meeting, the Governor held a series of bilateral meetings with representatives of CEB member countries to discuss ongoing cooperation and future projects.

This year the CEB will be holding its own annual Joint Meeting in Cyprus on 15-17 June, at the invitation of the Cypriot government.

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.