What is CEB – Council of Europe Development Bank?
The CEB – Council of Europe Development Bank was set up in Paris in 1956. This bank was created with the mission of funding social projects, mainly intended to support the displaced refugee population in Europe as a result of the Second World War.
The CEB is the oldest European multilateral financial institution and the only one with an exclusively social vocation. Over the years, the Bank’s Social Funding mission has been expanded to include funding for social housing, health and education projects, directly contributing to strengthening social cohesion in Europe.
Priority intervention areas
The Council of Europe Development Bank considers the following areas of intervention as a priority:
- Support for refugees, migrants and displaced populations: populations affected by natural or ecological disasters, populations living at the poverty line, orphans, the disabled and ethnic minorities. The CEB finances infrastructure construction and restructuring projects, procurement of equipment, health programs, education and training. The CEB also contemplates the possibility of these projects benefiting from subsidized interest rates and donations;
- Social housing: renovation projects, construction and remodeling of housing for social purposes. These projects may be for the acquisition, rental or adjacent infrastructure and may also include rural housing;
- Creation and maintenance of jobs: by facilitating access to credit through commercial banking, CEB provides support to projects aimed at micro and small and medium enterprises – investments in fixed capital or acquisition of equipment and working capital.
Environment and human capital development
In addition to responding to emergencies resulting from natural or ecological disasters, it is also intended to finance disaster prevention, protection of the environment and preservation of cultural and historical heritage projects.
With a view to developing human capital, the bank finances investment projects in the health, education and vocational training sectors. Also included are investments promoted by public and private entities in research projects and development centers and also:
- construction and rehabilitation of schools and universities, including sports and cultural equipment, as well as equipment for university residences;
- construction and rehabilitation of housing for students;
- improving access to educational centers;
- construction and rehabilitation of vocational training centers;
- programs: (i) assistance in the training of specialized educational and social staff; (ii) training of the unemployed and disadvantaged populations; (iii) retraining in declining economic sectors; (iv) training in the prevention of natural or ecological disasters to civil protection forces; (v) training of magistrates, administrators, civil servants and government officials.
Functioning and organization
The Bank is managed by a Governor, assisted by a Deputy Governor and two Vice-Governors. The Governor is the legal representative of the Bank and is responsible for all of its operational and financial services.
The Governing Board, made up of a representative of each Member State, is the supreme body of the Bank, having all the powers, except for the right to change the objectives stipulated in the By-Laws.
The Board of Directors is composed of a President and a representative from each member state, who are responsible for approving financing operations and issues related to Bank policies.
The Executive Committee, created in 1994, is composed of 13 members of the Board of Directors, on a rotating basis, and chaired by the Chairman of the Board of Directors. It is responsible for examining applications for funding, monitoring project implementation and monitoring financial activity.
The Supervisory Committee shall be composed of 3 members appointed by the Governing Board and shall be responsible for inspecting the accounts and verifying compliance with the statutes.
