Council of Europe Bank can work for a more inclusive society

Despite complexities in the economic, financial and regulatory environment that govern the activity of the Council of Europe Development Bank, a partial agreement of the organisation, the Assembly has hailed its success in managing risk and its support for high-value social projects.

Approving a resolution based on the report by Nicole Trisse (France, ALDE), the Assembly highlighted the CEB's efforts to bolster sustainable and inclusive growth, the integration of refugees and migrants, as well as its emphasis on ‘green investment’. According to parliamentarians, the CEB's development plan for 2020-2022 could stress the role the CEB can play in the collective mobilisation of its stakeholders towards the achievement of the UN Sustainable Development Goals.

In a debate in which Bank Governor Rolf Wenzel participated, the parliamentarians advocated continuing to streamline the CEB's governance and the project selection process, to step up its action to tackle the causes and the consequences of socio-economic inequalities, and improved public service delivery, including access to education, medical care, housing and employment.

The Assembly regretted that some Council of Europe member states (Andorra, Armenia, Austria, Azerbaijan, Monaco, the Russian Federation, Ukraine and the United Kingdom) have not yet joined the CEB and encouraged them to reconsider their position, in the interest of their populations.