The social development bank in Europe (2013)
The Council of Europe Development Bank (CEB) is a multilateral development bank with a social mandate. Established in 1956 on the basis of a partial agreement of the Council of Europe in order to bring solutions to the problem of refugees, the Bank has progressively widened its scope of action to include other sectors directly contributing to strengthening social cohesion in Europe. With its 41 Member States, the CEB represents a major instrument of solidarity in Europe: it participates in financing social investment projects, responds to emergency situations and, in so doing, aims at improving the living conditions of the most disadvantaged and vulnerable populations throughout its member countries.
The CEB comes under the supreme authority of the Council of Europe. It nevertheless has its own separate legal personality and full financial autonomy. The CEB bases its activity on its own funds and reserves and receives no aid or subsidy from its Member States. Thanks to its excellent rating, the Bank raises funds in the international capital markets on very competitive terms, thus enabling its borrowers to significantly reduce the cost of financing their social projects.