Cooperation areas

Together, they support the Bank’s most disadvantaged member countries, namely Ukraine, Western Balkan countries, Georgia and the Republic of Moldova. They partner around the Bank’s priority missions of addressing population displacements and natural disasters. They jointly address issues that are key to the social cohesion of Europe, namely the green transition and access to microfinance. Finally, they build up the capacity of the Bank’s partners to implement social projects in line with best practice.

Ukraine

The Bank works closely with its donors to support the reconstruction of Ukraine’s social sectors. In response to Russia’s full-scale military invasion, the Bank established the Ukraine Solidarity Fund (USF). It is used to deliver aid to displaced Ukrainians and support the country’s reconstruction. It can fund investment and operating costs of projects, technical support, interest subsidies and loan guarantees. The Fund has received €16.6 million from Germany, Ireland, Lithuania, Poland, the Czech Republic and the CEB, and financed €8.4 million in support.

The CEB also expects to shortly sign its first joint projects in Ukraine with the EU, under its Ukraine Investment Framework (UIF). The UIF, which is part of the EU’s €50 billion Ukraine Facility, aims to mobilise public and private investments contributing to Ukraine’s recovery and reconstruction, while advancing on its EU integration.

Western Balkans, Georgia and Republic of Moldova

The CEB’s most disadvantaged member countries are a key focus of the CEB’s cooperation with its donors, including a focus on the Western Balkan six, namely Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia, as well as Georgia and the Republic of Moldova.

The Bank co-finances projects with the Western Balkans Investment Framework (WBIF), a financial platform coordinating investment for socio-economic development in the region, where the EU is the largest donor. Since 2009, the WBIF has awarded €4.4 billion in grants for public sector projects, leveraging an estimated €36.1 billion in total investments. Grants channelled through the CEB amount to €79 million, with an additional €20 million in technical assistance provided directly to CEB projects.

The CEB also funds projects jointly with the Neighbourhood Investment Platform (NIP), a regional EU facility aimed at boosting economic growth and living standards in countries covered by the European neighbourhood policy. The NIP helps to finance major infrastructure and support the private sector, especially small businesses. It has provided €10 million in investment and technical assistance grants for CEB projects.

Population displacements

The CEB also partners with donors to support displaced persons, a mission which was part of its founding mandate and remains a priority. The EU and the CEB cooperate on a €140 million healthcare project in Türkiye, designed to strengthen health infrastructure in areas with high concentrations of Syrian refugees. Named SHIFA, this project is financed by the EU Facility for Refugees in Türkiye and the EU’s response to the 2023 earthquakes and managed by the CEB.

The Bank also uses the Migrant and Refugee Fund (MRF) to help its member countries host and integrate migrants and refugees. The Fund has received €39 million from 22 member countries—with the largest donors being Germany, France, and Italy—along with contributions from the CEB and the European Investment Bank, with €37 million in approved support to date.

Natural disasters

Helping member countries deal with natural disasters is also a founding mission of the Bank which remains a priority. The Disaster Prevention and Recovery Fund (DPRF) serves to help CEB member countries prepare for and address natural and environmental disasters. The CEB provided €3 million as initial funding to the DPRF, with approved support now at €2.3 million.

Green transition

The Bank also works with its community of donors to accelerate the transition to a socially inclusive, climate-resilient economy. The Bank co-finances green social projects with the Eastern Europe Energy Efficiency and Environment Partnership (E5P). The Partnership is a €462 million, multi-donor fund encouraging municipal investment in energy efficiency and environmental projects in Armenia, Azerbaijan, Georgia, the Republic of Moldova and Ukraine. The EU is the main donor to the facility alongside a group of 24 nations. E5P approvals in favour of CEB projects in Georgia and the Republic of Moldova total €17 million.

The Bank also uses its Green Social Investment Fund (GSIF) to assist its member countries with the transition toward low-carbon and climate-resilient economies. The Fund is used to support projects that have both environmental and social benefits. It has received €5 million in seed funding from the CEB and nearly €80 000 from the Czech Republic, while approved support totals €3.9 million.

Microfinance

The Bank also collaborates with donors to improve access to finance of vulnerable groups across Europe. The Bank mainly uses the Social Impact Account (SIA) to support its lending to microfinance institutions through loan guarantees. The SIA, which supports the Bank’s most socially focused projects, has been funded by allocations from the Bank’s earnings, in an amount of €144 million. By end 2025, the SIA has financed €16 million in grants and €6 million in technical assistance. It has also subsidised €2.1 billion in CEB lending and guaranteed €136 million in Bank loans.

In 2025, the CEB also concluded a partnership with the EU to improve vulnerable groups’ access to finance throughout EU member states. The CEB provides loans to microfinance institutions serving these populations to help them develop their operations. It also provides them with grants to finance business development services for vulnerable borrowers (e.g. training, mentoring) or interest subsidies on their microloans. The EU finances the grants through a €10 million contribution from the European Social Fund Plus (ESF+) and guarantees the CEB loans via its InvestEU facility. The ESF+ is the EU’s main instrument for investing in people and supporting the implementation of the European Pillar of Social Rights. CEB loan approvals guaranteed by InvestEU stand at €493 million while ESF+-funded grants total €8.6 million.

Capacity building

The CEB also works with its donors to address a key challenge for highly social projects, namely the limited capacity of the Bank’s partners to prepare and implement projects. The EU finances technical assistance for CEB projects through its InvestEU Advisory Hub, an initiative which supports sustainable investments, innovation, and job creation in Europe. The EU has allocated €13 million for CEB projects via this facility, of which €6.6 million have already been awarded.

The Bank has also concluded partnerships with three member countries to finance technical assistance for its highly social projects. The Slovak Inclusive Growth Account (SIGA) was set up by Slovak authorities to provide technical support for projects which contribute to inclusive growth and environmental sustainability. Slovak authorities have approved €2.7 million in support from their €4 million endowment.

Spanish authorities established the Spanish Social Cohesion Account (SCA) to finance technical assistance for highly social CEB projects. Spain has contributed €4 million to the SCA and approved €2.9 million in grants.

Italy created the Italian Fund for Innovative Projects (IFIP) to support innovative social projects in the Bank’s most disadvantaged member states. It provides technical assistance for initiatives in ODA-eligible countries, namely the Western Balkans, Georgia, the Republic of Moldova and Ukraine. Italian authorities have approved €0.9 million in grants from the €1 million endowment.

Data at end-2025