On Friday 24 June, the Governor of the Council of Europe Development Bank (CEB), Carlo Monticelli, and Poland’s Finance Minister, Magdalena Rzeczkowska, signed a record €450 million loan to help displaced persons from Ukraine.
This loan - the largest ever granted by the CEB - “is designed to address the evolving needs of displaced people and their host communities, involving both government institutions and civil society”, according to Carlo Monticelli.
It will partially finance the “Aid Fund” set up by the Polish government to reimburse the expenses for emergency and social assistance measures incurred by the organisations at the forefront of aid to displaced persons from Ukraine.
Created in 1956 to address refugee problems, the CEB is a multilateral development bank designed to promote social cohesion within the Council of Europe Member States. It is financially independent of this organisation and provides loans rather than grants. (Original version in French by Véronique Leblanc)