Council of Europe Development Bank

The Council of Europe Development Bank (CEB, Banque de Développement du Conseil de l'Europe, in French) dates from 1956, when the Council of Europe established the Resettlement Fund for National Refugees and Over-Population in Europe as a Partial Agreement. In 1994, it changed its name to the Council of Europe Social Development Fund, before becoming the Council of Europe Development Bank in 1999.[1]

Situated in Paris, with its own secretariat of 145 staff, the Bank is a separate legal entity and is autonomous in its decision-making. It has consistently enjoyed a Aaa credit rating from Moody's[2] and is currently rated AA+ by Standard and Poor's.[3]

The original aim was to help refugees and other displaced persons after the Second World War. It later expanded its scope of activities to include assistance to disaster victims, help with job creation, and improve social infrastructure. Its aim today is to promote social cohesion in its member states.

The CEB acts as a development bank, granting loans to member States. In 2007, its assets stood at 18.5 billion euros, which it uses to co-finance projects by means of loans of up to 40% of the project cost. The current governor is Rolf WENZEL, born in 1954, of German nationality.

In September 2008 the Bank's Administrative Council approved a donation for Georgia for 1 million euros for those affected by the 2008 South Ossetia war.

Membership

There are currently 41 member States, as follows:

Map of the member States.
  founder countries
  members

The only development bank member states that are not member of the Council of Europe are the Holy See and Kosovo.

External links

References

  1. ↑ Social Development Fund: Decision concerning the change of the name of the Institution
  2. ↑ http://uk.reuters.com/article/2011/09/08/idUKL3E7K81FR20110908
  3. ↑ http://www.reuters.com/article/2012/12/27/idUSWNB264420121227