News
Governor Wenzel on an official visit to Ireland
11 March 2015
PARIS - During an official visit to the Republic of
Ireland on 11 and 12 March 2015, the Governor of the Council of Europe
Development Bank (CEB), Rolf Wenzel, met with the Minister for Finance and
other senior Irish officials. Discussions focused on current and future co-operation
between the CEB and Ireland.
After his meeting with Michael Noonan, TD, Ireland’s Minister for Finance, Governor Wenzel said: “I would like to thank the Irish government for the warm welcome. Minister Noonan and I had a constructive exchange of views, and I reaffirmed the CEB’s readiness to broaden its co-operation with Ireland. We are currently working on two projects: the first project is aimed at providing social housing to low-income persons; the second project will support the rehabilitation and construction of judiciary infrastructure. If all goes well, we should be able to put these two projects to the CEB’s Administrative Council for approval.”
In recent years, the CEB has invested in several high social added value
projects in Ireland. At present, the Bank finances the construction of Cork
prison and of the National Children Detention Facility. Through its lending activity in the country, the CEB aims to
strengthen Ireland’s competitiveness and promote social cohesion.
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 stable 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.