CEB governing bodies meet in Warsaw and re-elect Governor Monticelli for a new 5-year term

WARSAW - As the Council of Europe Development Bank (CEB) celebrates its 70th anniversary in 2026, members of its Governing, Board Administrative Council and senior management gathered in Warsaw on 16-18 March for the annual Joint Meeting to take stock of how the Bank is delivering social impact locally across Europe. During the Joint Meeting, the CEB's Governing Board re-elected Governor Carlo Monticelli for a second five-year term.

At a time when national budgets are strained by multiple crises and authorities across Europe face growing pressure to respond to rising social needs, the Bank's shareholders highlighted the importance of sustained investment in social infrastructure and essential services - especially at the local level - to maintain social cohesion and to reach the most disadvantaged.

Over the past decade, the CEB has strengthened its engagement with local governments through a combination of financing, capacity building and knowledge sharing. During this period, the Bank has provided €11.8 billion in direct lending and €5.5. billion in indirect lending to bolster social investment at the local level in Europe.

This year's Joint Meeting was hosted for the first time by Poland, which joined the CEB in 1998, and represents one of the Bank's most important partners, accounting for the second-largest portfolio with €2.4 billion in outstanding loans. Since joining the Bank, Poland has benefited from financing for 80 social projects worth over €8 billion, supporting investments in education, health and social care, local and regional development, disaster preparedness and MSME financing.

"Modern cities face challenges such as sustainable water management, climate change, the development of green infrastructure and adaptation to extreme weather events, traffic congestion, environmental pollution and social problems, including housing shortages and immigrant integration. We firmly support CEB's mission on that front. We are eager to continue our fruitful cooperation to create a more prosperous, sustainable and inclusive world for all, upholding, at the same time, the values that we have shared for decades", said Andrzej Domański, Minister of Finance and Economy of Poland.

During the meeting, the CEB's Governing Board also re-elected Governor Carlo Monticelli for a second five-year term, a strong vote of confidence in his leadership and vision for the Bank. Governor Monticelli took office in 2021, having previously served as Vice-Governor for Financial Strategy for six years.

Thanking the members of the Governing Board, Governor Monticelli emphasised: "I am honoured by the renewed trust you have placed in me. The CEB's social mission is more vital today than at any point in our history. The Bank stands stronger and more determined than ever to serve as a steadfast bulwark for our member countries and the people we serve. As we turn 70 this year, one lesson endures: Europe flourishes when we invest in people, for people. I look forward to continuing this mission with clarity vision and unwavering determination in the years ahead."

The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from its 43 member countries. The CEB finances investment projects and provides technical assistance in social sectors such as education, health and affordable housing, while focusing on the needs of vulnerable people, as well as on the social dimensions of climate change and the environment. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. The CEB, which has a triple-A credit rating, funds itself through international capital markets. In addition, the CEB receives funds from donors to complement its activities.