Sweden commits SEK 5 million to Migrant and Refugee Fund
30 November 2015
PARIS - The Council of Europe Development Bank (CEB) welcomed Sweden’s announcement that it was contributing SEK 5 million, or more than € 500 000, to the Bank’s Migrant and Refugee Fund (MRF).
The announcement comes shortly after Governor Wenzel’s official visit to Sweden. The Governor had met with Sweden’s Minister of Finance, Magdalena Andersson, with whom he discussed the migrant and refugee crisis.
MRF is a new instrument established by the CEB to support member countries in coping with the influx of migrants and refugees.
Priority is given to the financing of reception and transit centres in countries receiving migrants and refugees. So far MRF funds have been used to finance projects in Serbia, “the former Yugoslav Republic of Macedonia” and Slovenia.
The CEB endowed the MRF with € 5 million and invited donors to contribute funds with a view to reaching an amount in the region of € 20 - 25 million.
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.