Governor Wenzel in Turkey for High-Level Economic Dialogue and talks with government officials

27 April 2016

The Governor of the Council of Europe Development Bank (CEB), Rolf Wenzel, was in Turkey on 25-26 April for the EU-Turkey High-Level Economic Dialogue in Istanbul and Ankara, and a series of meetings with senior government officials.

On 25 April, Governor Wenzel addressed a conference on the cooperation between international financial institutions and Turkey, in the framework of the EU-Turkey High-Level Economic Dialogue (HLED). The HLED, which was agreed in November 2015 between the Heads of State of EU member countries and the Turkish government, was co-chaired by Deputy Prime Minister Mehmet Şimşek and European Commission Vice President Jyrki Katainen.

In his address, Governor Wenzel said: “Given the CEB’s experience and long-standing engagement with Turkey, we stand ready to help the country fully realise its huge economic growth potential. Social investment in education, healthcare, municipal infrastructure and socio-economic support to vulnerable groups will support Turkey in hosting large numbers of Syrians and will also improve the living conditions of the local population.”

In addition, Governor Wenzel participated in a round table on European and Turkish investments and business affairs, along with Turkish Ministers and European Commissioners Pierre Moscovici, Johannes Hahn, and Karmenu Vella.

On 26 April, Governor Wenzel met with senior Turkish officials in Ankara. Discussions focused on current and future cooperation between the CEB and Turkey, economic developments in the country, and the migrant and refugee crisis.

Turkey, a founding member of the CEB, has received a large number of loans for social projects from the Bank since 1956. The two sectors which have benefited the most from CEB funding are the creation and preservation of viable jobs and the prevention of natural disasters.

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.