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Council of Europe Development Bank

{{Short description|International lending institution}}

{{distinguish|text=the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), or the European Development Fund}}

{{Infobox organization

| name = Council of Europe Development Bank
Banque de Développement du Conseil de l'Europe

| logo = Council of Europe Development Bank logo.svg

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| image = Paris Kleber 55.jpg

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| type = International financial institution

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| location = 55 avenue Kléber, Paris, France

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| leader_title = Governor

| leader_name = Carlo Monticelli{{cite web |url=https://coebank.org/en/about/structure-management/governor/ |title=Governor Carlo Monticelli |accessdate=February 18, 2023 |publisher=Council of Europe Development Bank}}

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| website = {{URL|www.coebank.org }}

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| founded_date = {{start date and age |1956}}

| former name = Resettlement Fund for National Refugees and Over-Population in Europe

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| num_members = 43 member states

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The Council of Europe Development Bank (CEB, {{langx|fr|Banque de Développement du Conseil de l'Europe}}) is a multilateral development bank, granting loans to member states to help disaster victims, help with job creation, and improve social infrastructure. {{As of|2020}}, its assets stood at 28 billion euros, which it uses to co-finance projects by means of loans of up to 40% of the project cost.{{Cite web|url=http://www.coebank.org/en/investor-relations/key-figures/|title=Key figures {{!}} CEB|website=www.coebank.org|access-date=2021-05-21}}

Its origins go back to 1956 when the Council of Europe created its Resettlement Fund for National Refugees and Over-Population in Europe ({{langx|fr|Fonds de rétablissement du Conseil de l'Europe pour les réfugiés}}), which was renamed as the Council of Europe Social Development Fund ({{langx|fr|Fonds de développement social du Conseil de l'Europe}}) in 1994 and eventually as the CEB in 1999. Since 1956, the bank has been headquartered at 55, avenue Kléber in Paris. It is a separate legal entity from the Council of Europe and is autonomous in its decision-making. It has a high credit rating from Moody's,{{Cite web|url=http://uk.reuters.com/article/idUKL3E7K81FR20110908|title=BRIEF-Moody's asgns Aaa rtg to Council of Europe Development Bank | Reuters|date=March 7, 2016|archive-url=https://web.archive.org/web/20160307164913/http://uk.reuters.com/article/idUKL3E7K81FR20110908 |archive-date=7 March 2016 }} Standard and Poor's{{cite web |title=TEXT – S&P cuts Council of Europe Development Bank |website=Reuters |archive-url=https://web.archive.org/web/20230614042057/https://www.reuters.com/article/idUSWNB264420121227 |archive-date=2023-06-14 |url-status=live |url=https://www.reuters.com/article/idUSWNB264420121227}} and Fitch Ratings.:fr:Fitch Ratings

CEB formally uses both the French and English languages. English largely replaced French as internal working language in the 2010s.{{cn|date=December 2023}}

History

The CEB 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.{{Cite web|url=http://conventions.coe.int/Treaty/EN/PartialAgr/Html/Decision.htm|title=Social Development Fund: Decision concerning the change of the name of the Institution|website=conventions.coe.int}}

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.[https://web.archive.org/web/20091010140337/http://assembly.coe.int/Documents/AdoptedText/ta07/EREC1818.htm Activities and orientations of the Council of Europe Development Bank (CEB): Recommendation 1818 (2007)1 of the Parliamentary Assembly of the Council of Europe]

Membership

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There are currently 43 member states, as follows:

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Except for the Holy See and Kosovo, all member states are also members of the Council of Europe.

Governors

  • Raphael Alomar (1999-2011), previously head of the Council of Europe Resettlement Fund (1993-1994) and Social Development Fund (1994-1999){{cite web |website=Rue89 |title=Règlements de comptes à la banque sociale de l'Europe |author=François Krug |date={{date|2016/11/15}} |url=https://www.nouvelobs.com/rue89/rue89-economie/20110310.RUE1215/reglements-de-comptes-a-la-banque-sociale-de-l-europe.html }}{{citation |title=Rapport du Gouverneur 2014 |page=57|publisher=CEB Bank |url=https://coebank.org/media/documents/Rapport_Annuel_2014.pdf }}
  • Rolf Wenzel (2011-2021)
  • Carlo Monticelli (from 2021){{cite web |website=Council of Europe |date={{date|2021/06/16}} |title=CEB appoints Carlo Monticelli as new Governor |url=https://www.coe.int/en/web/portal/-/ceb-appoints-carlo-monticelli-as-new-governor }}

See also

References

{{Portal|Banks}}

{{Reflist}}

{{Council of Europe|state=collapsed}}

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{{DEFAULTSORT:Council Of Europe Development Bank}}

Category:Supranational banks

Category:International development multilaterals

Category:Multilateral development banks

Category:Council of Europe