“Council of Europe Development Bank (CEB) has established itself as the bank for social development in Europe”, asserted CEB Governor Rolf Wenzel, addressing PACE on Thursday.
The only international financial institution with an exclusive social mandate develops co-ordinated and rapid action in tackling social disparities, supporting the most vulnerable populations across the continent: such as during the recent floods in Bosnia and Herzegovina, Croatia and Serbia.
“Promoting social cohesion and solidarity in Europe was never an easy challenge”, the Governor underlined in his speech with a focus on co-operation with the European Union in the Western Balkans Investment Framework.
Concerning financial results in 2013, Wenzel highlighted the fact that net profit reached 111 million euro and was entirely allocated to the Bank’s reserve. So far in 2014, 16 projects have been approved totalling about 1,3 billion euro.
