NICOSIA, 19-Jun-2017 — /EuropaWire/ — The Council of Europe Development Bank (CEB) welcomes Italy’s contribution of € 3 million to the Migrant and Refugee Fund (MRF). This contribution brings the total amount committed to the MRF to almost € 24 million.
The MRF is a grant-based facility established by the CEB in 2015 to help its member countries meet the most urgent needs of migrants and refugees on their territory. The Fund may also be used to help CEB member countries integrate migrant populations and enable them to rebuild their lives in dignified conditions.
The CEB endowed the Fund with € 5 million, aiming for an additional € 15 to 20 million in grant contributions from member countries and other donors. Since October 2015, the CEB has allocated € 18 million in grants for a total of 14 migrant and refugee projects in Albania, Croatia, Greece, Lithuania, Portugal, Serbia, Slovenia, and “the former Yugoslav Republic of Macedonia”.
Italy, one of the eight founding member countries of the CEB, believes that the MRF is instrumental in helping to address critical situations in this field.
Commenting on the announcement of the Italian contribution, CEB Governor Rolf Wenzel said: “I thank the Italian government for this very generous contribution, which will enable the CEB to continue supporting its member countries tackling issues related to the inflow of migrants and refugees.”
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank’s target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody’s, outlook stable, AA+ with Standard & Poor’s, outlook stable and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.
SOURCE: The Council of Europe Development Bank (CEB)