The social development bank in Europe


UNDP, Council of Europe Development Bank to boost Development Goals in Europe

6 February 2017

MOU with UNDPThe United Nations Development Programme (UNDP) and the Council of Europe Development Bank (CEB) today agreed to extend their cooperation for another five years, aiming to scale up their support for achieving the Sustainable Development Goals (SDGs) in Southeastern Europe, Turkey, Moldova and Georgia.

The agreement, signed by CEB Vice-Governor Carlo Monticelli and the Director of UNDP’s Regional Bureau for Europe and the CIS, Cihan Sultanoğlu, will help to address climate change and energy efficiency, respond to challenges such as the migration and refugee crisis, and promote inclusive social and economic development in the region.

“Our region has achieved remarkable progress but much more needs to be done to ensure people do not fall back into poverty or get left behind. Scaling up our work with partners such as the CEB, with its unique social vocation and large-scale investment capacity, will help ensure we finish the job”, said Cihan Sultanoğlu during the signing ceremony.

“Our two institutions are called upon to play a crucial role in meeting the challenges that we are facing. Enhancing the cooperation between the CEB and the UNDP is a key factor for social development in our respective member countries”, said Carlo Monticelli, CEB Vice-Governor.

In the framework of the initial Memorandum of Understanding signed in 2007, UNDP, with CEB funds, helped build the largest wastewater treatment plant in Cyprus to the benefit of 270,000 inhabitants; rehabilitated public infrastructure in Georgia’s Shida Kartli region following the 2008 violence; provided emergency food aid to the former Yugoslav Republic of Macedonia and promoted social inclusion of the Roma community.  


UNDP works in nearly 170 countries and territories, helping to achieve the eradication of poverty, and the reduction of inequalities and exclusion. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities and build resilience in order to sustain development results. 

CEB is a multilateral development bank with an exclusively social mandate. Through the provision of financing and technical expertise for projects with a high social impact in its member states, it actively promotes social cohesion and strengthens social integration in Europe. 

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.

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