Strengthening Collaboration: CEB and EIB Group Unite to Tackle Social Challenges in Europe
(IN BRIEF) On October 14, 2024, the Council of Europe Development Bank (CEB) and the EIB Group, which comprises the European Investment Bank (EIB) and the European Investment Fund (EIF), convened in Paris to enhance collaboration in tackling the growing social finance needs across Europe. The institutions aim to leverage their strengths to address urgent challenges related to social and financial inclusion. Their discussions centered on areas such as social impact finance, microfinance, and support for social enterprises. As partners in the InvestEU program, they are dedicated to scaling up efforts in sectors like social infrastructure and small and medium-sized enterprises (MSMEs). The institutions also reaffirmed their commitment to supporting social infrastructure and MSMEs in Ukraine, ensuring access to essential services for displaced populations. The meeting underscored their proactive approach to identify synergies for future projects, with a shared goal of making a lasting impact on European citizens.
(PRESS RELEASE) PARIS/LUXEMBOURG, 15-Oct-2024 — /EuropaWire/ — On October 14, 2024, in Paris, the Council of Europe Development Bank (CEB) and the EIB Group, which includes the European Investment Bank and the European Investment Fund, convened at the CEB headquarters to discuss enhanced cooperation aimed at addressing the escalating social finance demands across Europe.
Both institutions are committed to utilizing their unique strengths to confront urgent social and financial inclusion challenges on the continent. The discussions highlighted their ongoing initiatives in social impact finance, microfinance, and support for social enterprises, underscoring their critical role in fostering inclusive growth.
As key partners in the InvestEU program—a European Union initiative designed to bridge investment gaps in essential policy areas—the CEB, EIB, and EIF aim to coordinate their strategies and amplify their efforts in crucial sectors such as social infrastructure, small and medium-sized enterprises (MSMEs), and education.
Furthermore, the organizations reiterated their dedication to collaborating on projects that enhance social infrastructure and support MSMEs in Ukraine. This effort is particularly vital in providing displaced populations with adequate housing, services, and economic opportunities, while also ensuring ongoing assistance for Ukrainian refugees across member states.
Both institutions are set to actively seek synergies for future projects, with the goal of establishing a more robust and seamless partnership that delivers lasting benefits to European citizens.
“We are excited to reinforce the collaboration between CEB and the EIB Group at such a pivotal moment for Europe. The CEB’s distinct social mission and expertise in financing impactful projects are invaluable to this partnership. Through our combined efforts, we can significantly improve the daily lives of European citizens and advance the vision of a socially cohesive Europe,” stated Sandrine Gaudin, CEB’s Vice-Governor for Financial Strategy.
“This alliance is crucial for amplifying our joint mission of promoting social cohesion, economic resilience, and environmental sustainability. By leveraging our collective resources and expertise, we can effectively address Europe’s most pressing challenges, driving inclusive growth and sustainable development across the region,” added Kyriacos Kakouris, EIB’s Vice-President.
“We are committed to deepening our collaboration to enhance the effectiveness of our interventions for Europe’s most vulnerable communities. The EIF and the CEB play a vital role in developing social investment, and this strengthened relationship will enable us to converge further in the realm of inclusive finance,” concluded Alessandro Tappi, Chief Investment Officer of the EIF.
About CEB
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.
About EIB Group
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. The EIB Group, which also includes th European Investment Fund (EIF) signed a total of 88 € billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.
About EIF
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s small and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that target this market segment. In this role, the EIF advances key EU policy objectives including competitiveness, growth, human capital and climate action.
Media Contact:
Jelica Vesic
Senior Communication Officer
CEB
+33 6 03 12 57 80
jelica.vesic@coebank.org
Christophe Alix
Communication and media Officer
EIB Group in France
+33 6 11 81 30 99
c.alix@eib.org
press Office:
press@eib.org
+352 43 79 84 303
SOURCE: European Investment Fund
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