Governor Wenzel meets First Deputy Prime Minister and Minister of Finance of the Czech Republic

04 March 2014

PRAGUE - During his first official visit to the Czech Republic, 3 and 4 March 2014, the Governor of the Council of Europe Development Bank (CEB), Mr Rolf Wenzel, had a meeting with the First Deputy Prime Minister and Minister of Finance of the Czech Republic, Mr Andrej Babiš.

The main topics of discussion between the Minister and the Governor were future bilateral cooperation between the Czech Republic and the CEB as well as the activities and perspectives of the CEB.

Governor Wenzel also thanked the Czech Republic for supporting the new development plan of the Bank for the period 2014 - 2016 which was recently published. Both agreed to advance cooperation through exploring projects in the area of SMEs and Social Housing.

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.