The Council of Europe Development Bank (CEB) is a multilateral development bank with a social vocation. It is a key instrument of solidarity policy in Europe.

Since its inception in 1956, the Bank has helped to finance social projects and responded to emergency situations, thereby contributing to the improvement of living conditions in the least privileged regions of Europe.

The Bank is an inter-governmental financial institution whose action is complementary to that of other European financial institutions. It comprises 35 member states. Although it is a separate legal and financial entity, it is closely linked to the Council of Europe and is its financial instrument.

Loans are granted in accordance with precisely defined criteria. Statutory priority is given to projects which "help in solving the social problems with which European countries are or may be faced as a result of the presence of refugees, displaced persons or migrants consequent upon movements of refugees or other movements of populations and as a result of the presence of victims of natural or ecological disasters."

Since its inception, forty-six years ago, the Bank has gradually broadened its fields of action. New priorities have been set, embracing all the activity areas that directly contribute to strengthening social cohesion in Europe: job creation and preservation in SMEs, social housing, health, education and rehabilitation of disadvantaged urban areas.

Lastly, the CEB is also active in other fields: protection of the environment, rural modernization, conservation and rehabilitation of the historic heritage.

Paid-up capital, reserves and capital raised on the financial markets constitute the basis for the Bank's operations, since it does not receive annual subscriptions from its members. Public issues and private placements enable it to raise funds directly on the capital markets, to which it enjoys access on the best possible terms.

COMPOSITION

35 member states: Albania, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Holy See, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, The Former Yugoslav Republic of Macedonia, Malta, Moldova, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey.

STRUCTURE

The Banks organs are:

• the Governing Board, chaired by Mr. Orhan GÜVENEN;
• the Administrative Council, chaired by Mr. Heinrich HARRIES;
• the Governor, Mr. Raphaël ALOMAR, assistet by the Vice-Governor Delegate, Mr. Nunzio GUGLIELMINO and two other Vice Governors, Mr. Krzysztof J. NERS and Mr. Apolonio RUIZ LIGERO;
• the Auditing Board.

UPDATED:  May 20, 2003