InvestEU: European Commission and Council of Europe Development Bank sign agreement to provide advisory support for social investment projects

26 January 2023

Paris - The Commission has signed today an agreement with the Council of Europe Development Bank (CEB) to provide advisory support to social investment projects across Europe. 

Under the InvestEU Advisory Hub, CEB will offer project advisory and capacity building support to project promoters and financial intermediaries across Europe. The total financial support for the provision of advisory services under this agreement will amount to €9.8 million, of which €8.1 million comes from the EU budget and €1.7 million from the CEB.

The InvestEU Advisory Hub complements the InvestEU Fund, which CEB and the Commission signed in November. The policy objectives set for CEB’s Advisory Hub initiatives are the same as those established for the InvestEU Fund projects. In particular, the advisory support provided by CEB will contribute to the development of quality investment projects under the “social investment and skills” and “sustainable infrastructure” windows of the Invest EU instrument. These projects can cover investments in social, affordable and student housing, childhood education, universities and vocational training centres and healthcare. CEB will also be able to assist the development of projects designed to support people fleeing Russia’s invasion of Ukraine and the communities which host them.

Commissioner for the Economy, Paolo Gentiloni, said: “With today’s agreement, we are enhancing our engagement with the CEB to help provide the advisory support needed to deliver crucial social investments. This support is crucial in making projects in housing, education and healthcare a reality. I am delighted that InvestEU is playing an important role in building a strong social Europe.”

Governor Carlo Monticelli said: “Today’s agreement under the InvestEU framework will enable the CEB to add advisory support to its financial expertise in order to get vital investments in social sectors off the ground. As Europe’s social development bank, we are pleased to further our partnership with the European Union, working together to strengthen social cohesion in our member countries.” 

Set up in 1956, the CEB (Council of Europe Development Bank) has 42 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, on review for upgrade, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook positive and AAA* with Scope 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.