Greece’s Development and Investment Minister Mrs Louri-Dendrinou meets with Governor Mr Monticelli of Council of Europe Development Bank ahead of annual meeting in Athens
8 June 2023
Athens - Today Greece’s Minister of Development and Investment, Mrs Eleni Louri-Dendrinou and the Governor of the Council of Europe Development Bank (CEB), Mr Carlo Monticelli, met for talks in Athens in advance of the 56th annual Joint Meeting of the CEB, which opens in the Greek capital tomorrow 9 June.At their meeting, Minister Louri-Dendrinou and Governor Monticelli discussed ongoing collaboration between the CEB and Greece to support investment in key social sectors such as healthcare, job creation and assistance to migrants.
Established in 1956, the CEB is Europe’s oldest multilateral development bank and its social development bank of choice. Greece is a founding member of the CEB and is hosting this year’s annual Joint Meeting, a high point in the Bank’s calendar which takes place every year in a CEB member country. To date, the CEB has approved a total of 52 projects for Greece, representing more than €3 billion in loans. CEB’s lending to Greece has picked up in recent years. Since 2019, four projects have been approved for a total value of €352 million, to finance natural disaster prevention, healthcare, urban and rural development, as well as small businesses and ongoing microfinance work in favour of vulnerable people.
Minister Louri-Dendrinou said: “We had a warm and constructive discussion with Mr. Monticelli, the Governor of the CEB, the first European multilateral financial institution, shouldering the unique mission of strengthening social cohesion.
Greece, as a founding member, steadily supports CEB’s mission and is looking forward to the Bank’s contribution in its development prospects, not only as a source of reliable and low-cost financing, but also – and mostly – as a source of valuable expertise, especially in areas where CEB has a long presence and Greece has a huge potential such as microfinance, digital and green transition”.
Governor Monticelli said: “I am honoured by the warm welcome that Minister Louri-Dendrinou and the Greek government have extended to us in hosting our annual Joint Meeting. In our meeting Minister Louri-Dendrinou and I agreed that the CEB’s social mission could not be more relevant and urgent than today. I am most grateful for the support Greece has always shown the Bank. The CEB looks forward to continuing our fruitful co-operation and helping Greece address its pressing social challenges in the months and years ahead.”
For more information on the 56th CEB Joint Meeting in Athens, please visit: https://coebank.org/en/news-and-publications/56th-ceb-joint-meeting/
About the CEB
The Council of Europe Development Bank (CEB) is a multilateral development bank whose unique mission is to promote social cohesion throughout Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.
The CEB has 42 member states. It was established originally as a refugee fund in 1956 by eight of the 15 member states that made up the Council of Europe at the time. The CEB is Europe’s oldest multilateral development bank, and is legally and financially separate from the Council of Europe.