CEB publishes 2023 Social Inclusion Bond Report

PARIS - The Council of Europe Development Bank (CEB) published today itsSocial Inclusion Bond (SIB) Report under the Bank's portfolio approach for the management of proceeds. Along with the report, the CEB released the excel document containingallocation and impact details.

The "Use of Proceeds" categories of the Framework are unchanged and comprise the following four key sectors of activity for the Bank:

• housing for low-income persons;
• health and social care;
• education and vocational training;
• support to micro-, small- and medium-sized enterprises (MSMEs) for the creation and preservation of viable jobs.

Key figures of the eligible social loans portfolio as at 31 December 2023:

• 142,762 dwellings constructed or renovated, housing 364,674 residents;
• 3,689,608 students benefitted from new or better educational facilities;
• 1,878 healthcare establishments constructed or modernised;
• 1,430,755 jobs maintained and 63,453 jobs created.

In recognition of its pioneering work in the Social Bonds sector, the CEB received "2023 Social Bond of the Year" award in the supranational category from Environmental Finance.

"The CEB's Social Inclusion Bonds (SIBs) are a valuable tool to raise money in capital markets to fund projects with high social benefits. I am proud that the CEB has been a pioneer and continues to lead the way in this market," said Governor Carlo Monticelli.

Since 2017, the CEB has issued sixteen SIBs for a total volume of €8 billion. In 2023 the CEB's SIB issuance reached €2.3 billion or one third of the Bank's total funding programme.

Furthermore, the CEB continued to be a leader in the Social Bond market, supplementing the EUR and USD denominated SIB benchmarks by diversifying issuance into three additional currencies: SEK, CAD and AUD. This diversification strategy allows the CEB to meet specific investors requests in different regions, while providing further growth to the social bond market.

The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.