The Council of Europe Development Bank
The Council of Europe Development Bank (CEB) is the oldest European multilateral development bank with an exclusively social mandate. The CEB contributes to the implementation of socially oriented investment projects through three sectoral lines of action: Inclusive growth, Support for vulnerable groups and Environmental sustainability. The CEB was founded in 1956 (in the form of a Resettlement Fund) based on a partial agreement. The Bank was previously known as the Council of Europe Social Development Fund. Since 1st November 1999, the institution's new name is Council of Europe Development Bank. The headquarters of the operational services is in Paris.
The CEB has 43 member states who are the Bank’s shareholders. All countries that are members of the Council of Europe are eligible to join the CEB.
The Czech Republic joined the CEB in February 1999. The Czech Republic‘s share of the CEB‘s subscribed capital is 0.771% (43 037 000 EUR) of the CEB‘s total subscribed capital (5 579 046 000 EUR).
Structure of the Council of Europe Development Bank
The organisation, administration and supervision of the Bank shall be divided between the Governing Board, the Administrative Council, the Governor and the Auditing Board.
The Governing Board is the supreme organ of the CEB; it shall be vested with all powers in respect of the CEB, save the right to change its purposes as stipulated in Article II of the Articles of Agreement. It consists of a Chairperson and one representative appointed by each Member. Each Member may appoint a substitute.
Representative to the Governing Board:
Mr Petr VÁLEK, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Czech Republic to the Council of Europe, Strasbourg
The Administrative Council is vested with all the powers delegated to it by the Governing Board in pursuance of Article IX. I consists of a Chairperson appointed by the Governing Board for a three-year term, renewable for a second three-year term, and one representative appointed by each Member. Each Member may appoint a substitute.
Representative to the Administrative Council:
Mr Petr PAVELEK, Department Director, Debt and Financial Assets Management Department, Ministry of Finance, Prague
The Governor shall be the legal representative of the Bank. He/She shall be the head of the Bank's operational services and shall conduct day-to-day business on the instructions of the Administrative Council. Under the general supervision of the Administrative Council, he/she shall be responsible for the organisation of the operational services and the appointment and dismissal of the staff of the Bank, within the framework of the regulations adopted by the Administrative Council. The Governor shall be appointed for a term of five years renewable once. The Governor is Mr Carlo Monticelli.
The Governor shall be assisted by one or more Vice-Governors. The Governor shall designate a Vice-Governor Delegate who shall replace him/her in case of absence or incapacity. The Governor shall determine the responsibilities of the Vice-Governors taking into account the post descriptions approved by the Administrative Council.
The Governor is currently assisted by Vice-Governor for Target Group Countries Mr Tomáš Boček, Vice-Governor for Financial Strategy Ms Sandrine Gaudin and Vice-Governor for Social Development Strategy Mr Johannes M. Böhmer.
Tomáš Boček first joined the CEB’s appointed officials in March 2019, having previously served as Special Representative of the Secretary General of the Council of Europe on Migration and Refugees. On 16 April 2021, the Governing Board of the CEB re-appointed Mr Tomáš Boček to the post of Vice-Governor for Target Group Countries for a mandate from 16 August 2021 to 15 August 2026.
The Auditing Board inspects the Bank's accounts and verifies that the operational accounts and balance sheet are in order. Having regard to the opinion given by the Administrative Council, the Governing Board appoints the members of the Auditing Board. The Auditing Board shall consist of three members. They shall act completely independently.
On 8 April 2022, the Governing Board of the CEB appointed Ms Barbora Janíčková as a member, Ms Jana Mrázová as a substitute member and Mr Michal Švadleňák as a second substitute member of the Auditing Board for the Czech Republic.The mandate of the member representing the Czech Republic will expire on the day on which the accounts for 2024 are approved.
Since the beginning of the Czech Republic's membership in the CEB in 1999, the CEB has approved more than EUR 2.18 billion, ie approximately CZK 54 billion (exchange rate 24.660 CZK/EUR) in financing for a wide range of social investments in municipal infrastructure improvements and for MSMEs, mostly through financial intermediaries.
Loans to the Czech Republic as a Sovereign
Since the beginning of the Czech Republic's membership in the CEB, the Czech Republic has signed 2 loan agreements for a total of EUR 500m.
|COVID-19 Public Sector Financing Facility||date of signature: 19 June 2020|
|Registr smluv||loan amount: EUR 300m|
|drawn: EUR 300m|
|redeemed: EUR 0|
|estimated total project costs: EUR 350m|
|project objective: Aid the Czech Government in its efforts to mitigate the spread and consequences of COVID-19, to safeguard the availability by COVID-19 by providing the necessary medical material and equipment.|
|Aid to displaced persons fleeing the conflict in Ukraine||date of signature: 1 December 2022|
|Registr smluv||loan amount: EUR 200m|
|drawn: EUR 0|
|redeemed: EUR 0|
|estimated total project costs: EUR 250m|
|project objective: Part-financing of extraordinary expenditures resulting from the conflict in Ukraine. Provide accommodation, housing and food to displaced persons, strengthening their employment and labour market integration, and providing an emergency aid allowance intended to help pay for basic needs for up to six months.|
As at: 24 October 2023
Loans to regions and municipalities
Loans are negotiated between the CEB and the respective municipality.
Loans to the private sector
Approved loans to the private sector in the total amount of approx. EUR 1 679m ie approximately CZK 41 billion (exchange rate 24.660 CZK/EUR).
Detail Information about the Projects approved by the Administrative Council in the Czech Republic:
In case of any questions or further information needed, please, contact us at CEB@mfcr.cz.