The Council of Europe Development Bank (CEB) issued a new € 1 billion seven-year Social Inclusion Bond (SIB) to bolster its response to the social crisis unfolding due to the war in Ukraine and help its member states assist millions of refugees seeking safety.
The proceeds of the new bond could be used, in part or in full, by the CEB member countries to support longer term needs of refugees and their host communities. Echoing its timely response to the COVID-19 pandemic the CEB is already working closely with its most impacted members to identify the areas of greatest needs.
In parallel, the CEB has been the first multilateral development bank to disburse grants to help its members to meet the immediate needs of Ukrainian refugees: transport, shelter, food and medical care.
“The CEB was created 65 years ago to address population displacements in Europe. This mission, which remains at the core of our mandate in these critical times, combines with our long-standing experience to make the CEB one of the international financial institutions best placed to tackle the Ukrainian refugee crisis,” said CEB Governor Carlo Monticelli.
Press release
CEB issues a new social inclusion bond to bolster its response to Ukraine refugee crisis | CEB