High-level dialogue: NIB and CEB to strengthen cooperation on social development

On 25 September, the top management of the NIB and the Council of Europe Development Bank (CEB) met in Paris to discuss future collaboration between the two institutions. The visit took place in the margins of the NIB's Board of Directors meeting hosted at the CEB Headquarters.

The two banks discussed a wide range of topics, including the impact of the war in Ukraine on their operations, the need to invest in sustainable growth and resilience, as well as enhancing social development.

The CEB and NIB have a good and longstanding relationship, based on a Memorandum of Understanding signed in 2002, which remains highly relevant today. The institutions have co-financed over EUR 700 million in projects such as refurbishments of public buildings in Lithuania, hospitals in Estonia or supporting women entrepreneurs in the Baltics.

"CEB maintains strong connections with the eight Baltic and Nordic countries that are part of NIB's membership. We recognize the potential to enhance our collaboration with NIB to address the growing social investment needs in the region," said CEB Governor Carlo Monticelli.

"The bread and butter of the Nordic Investment Bank is to finance projects improving the productivity and environment in the region. Due to the new geopolitical reality, the regional resilience and security aspects have also been highlighted. However, we have always had a social leg in our operations. During the years we have financed numerous schools, hospitals and university facilities which foster equal economic opportunities and therefore a sustainable development of our region. This is the area where we share much in common with CEB and we want to do more together in this field", commented NIB President and CEO André Küüsvek.

The Nordic Investment Bank (NIB) is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank provides long-term financing for public and private projects that improve productivity and benefit the environment of the Nordic and Baltic countries. The Bank's headquarters is in Helsinki. NIB holds the highest possible credit rating, AAA/Aaa, from leading rating agencies Standard & Poor's and Moody's.

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.

For further information, please contact
Jelica Vesic, Senior Communication Officer at CEB, +33 6 03 12 57 80, [email protected]
Vytautas Brazaitis, Senior Communications Officer at NIB, +358 10 618 0235, [email protected]