01/17/2020 | Press release | Distributed by Public on 01/17/2020 10:47
Paris - The Council of Europe Development Bank (CEB) has released its Development Plan for the period 2020-2022. The new Development Plancharts the Bank's mid-term strategy on how to strengthen social cohesion as a means of building more inclusive and sustainable societies in its member states.
More than ten years after the onset of the financial crisis, Europe is still grappling with its legacy, while continuing to face long-term challenges, including an ageing population, migration pressure, the impact of technological innovation on the labour market, and climate change. Widening inequalities tear the social fabric apart and threaten the European model of a social market economy.
Against this backdrop, the Development Plan 2020-2022 will guide CEB activity so that the Bank can continue to fulfil its distinctive social mandate in an effective way. The new Plan centres onthree strategic lines of action that reflect the CEB's social mandate: promoting inclusive growth; supporting vulnerable groups, including migrants and refugees; and safeguarding environmental sustainability in all social projects.
The UN Sustainable Development Goals (SDGs) have taken centre stage in the new Plan, with the Bank advocating for, and supporting the shift towards, more sustainable and socially-responsible finance. The CEB will be especially mindful of the contribution that its social investments make to relevant SDGs.
Increased emphasis is also placed on the CEB's cooperation with sub-national governments, which, in many European countries, shoulder much of the responsibility to implement social policies.
Regarding its partnerships, the Bank will continue to support the values of the Council of Europe through the financing of projects, and will further strengthen its co-operation with the European Union, other international organisations, and national and academic institutions.
The Governor of the CEB, Mr Rolf Wenzel, said: 'The new Development Plan 2020-2022 provides the CEB with a clear strategic vision for the medium term. It highlights our firm commitment to financing projects which not only have a strong social content but are also environmentally sound. The Plan will help us to remain focused on our priorities and continue to support the social development policies of our members in accordance with our mandate, delivering strong results.'
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (AA+ with Fitch Ratings, outlook positive, AAA with Standard & Poor's, outlook stable and Aa1 with Moody's, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.