CEB issues a new social inclusion bond to bolster its response to Ukraine refugee crisis

7 avril 2022

PARIS – The Council of Europe Development Bank (CEB) issued a new € 1 billion seven-year Social Inclusion Bond (SIB) to bolster its response to the social crisis unfolding due to the war in Ukraine and help its member states assist millions of refugees seeking safety.  

The proceeds of the new bond could be used, in part or in full, by the CEB member countries to support longer term needs of refugees and their host communities. Echoing its timely response to the COVID-19 pandemic the CEB is already working closely with its most impacted members to identify the areas of greatest needs.  

In parallel, the CEB has been the first multilateral development bank to disburse grants to help its members to meet the immediate needs of Ukrainian refugees: transport, shelter, food and medical care.  

“The CEB was created 65 years ago to address population displacements in Europe. This mission, which remains at the core of our mandate in these critical times, combines with our long-standing experience to make the CEB one of the international financial institutions best placed to tackle the Ukrainian refugee crisis,” said CEB Governor Carlo Monticelli.

“Credit Agricole Group is very proud to support the new Council of Europe Development Bank's Social Inclusion Bond that aims to provide financial assistance to its member states hosting large inflow of refugees,” said Laurent Cote, Global Head of Treasury at Credit Agricole Group. “This investment in the liquidity portfolios is in line with the Credit Agricole Group's objectives of supporting populations affected by conflicts or disasters and ESG support.”

"AG2R LA MONDIALE is very pleased to have invested in this new seven-year Social Inclusion Bond which perfectly fits our ESG mandates,” commented Stephan Casahoursat, Head of Fixed Income Investment at AG2R LA MONDIALE.

In line with CEB’s updated Social Inclusion Bond Framework, proceeds of the newly issued bond can finance projects in one or several sectors of action: social housing for low-income persons, education and vocational training, health and social care, and support to MSMEs for the creation and preservation of jobs.  

The proceeds will be placed in CEB’s treasury and allocated to a portfolio of existing or new eligible social loans within 24 months. As per its usual practice, the Bank will publish an impact report within a year.  

For full technical details of the new social inclusion bond, click here.

Fondée en 1956, la CEB (Banque de Développement du Conseil de l'Europe) compte 42 États membres, dont 22 pays d'Europe centrale, orientale et du Sud-Est formant les pays cibles de la Banque. En tant qu'instrument majeur de la politique de solidarité en Europe, la Banque finance des projets sociaux en mettant à leur disposition des ressources levées dans des conditions reflétant la qualité de sa notation (Aa1 auprès de Moody's, perspective stable, AAA auprès de Standard & Poor's, perspective stable, AA+ auprès de Fitch Ratings, perspective positive et AAA* auprès de Scope Ratings, perspective stable). Elle accorde des prêts à ses États membres, à des établissements financiers et à des autorités locales pour le financement de projets dans le secteur social, conformément à son Statut.

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