Joint Meeting of the CEB in Moldova

20 June 2012

PARIS - The 47th Joint Meeting of the CEB, bringing together the Institution’s Governing Board, Administrative Council and Management, was this year held on 15 and 16 June in Chisinau.

The highlights were:

- Further strategic reflexion on addressing challenges for the CEB
- Presentation of the CEB results of the Staff Engagement and Motivation Survey to the Collegial Organs
- Review of the overall framework for the compliance policy of the CEB
- Adoption of the fourth Corporate Social Responsibility Report

Furthermore, 4 new projects, representing a total amount of 230 million euros in financings, were approved during the Administrative Council meeting. Therefore, since the beginning of 2012, the CEB's Administrative Council has approved 16 projects, for a total amount of 1 001 million euros. Among these, 13 projects are in favour of the target countries of Central, Eastern and South Eastern Europe, representing a sub-total of 606 million euros, 60.5% of the total amount approved this year.

In addition, was also approved a donation of 500 000 euros for the purchase of equipment for the national blood transfusion centre of Moldova. The “contribution agreement” was subsequently signed by the Prime Minister, Mr. Vlad Filat, and Governor Rolf Wenzel representing the Bank.

The Joint Meeting of the CEB was preceded by a series of official meetings between the Governor and the highest Authorities of the host country, Moldova, namely: the President of the Republic, the Chairman of the Parliament, the Prime Minister, the Minister of Foreign Affairs and European Integration, the Minister of Finance, the Minister of Justice and the Minister of Health. The Prime Minister also made a speech at the joint session of the Bank's Governing Board and Administrative Council.

It will be recalled that the CEB is the oldest international financial institution in Europe, founded in 1956 by eight Member States with a capital equivalent to 5.7 million euros.

As a major instrument of the policy of social solidarity in Europe, for over fifty years it has been financing social projects by providing to its Member States financial resources raised in conditions that reflect the quality of its AAA signature (with Moody's, outlook stable, Standard & Poor's, outlook negative and Fitch Ratings, rating watch negative).

Today, with its 40 Member States and a subscribed capital of 5 billion euros, the CEB has paid out more than 30 billion euros in loans since its creation.