Promotes social cohesion through funding affordable housing projects.
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate, focused on promoting social cohesion across its 43 member states in Europe. The bank's key areas of activity include social and affordable housing, health and social care, education, and support for vulnerable groups such as refugees and migrants. CEB provides loans to co-finance socially-oriented projects, with a particular emphasis on sustainable and affordable housing for low-income and vulnerable populations. The bank's total assets amounted to €34.4 billion at the end of 2023. While specific project financing amounts vary, the CEB typically co-finances up to 40% of total project costs. To receive funding, projects must align with the CEB's social mandate and demonstrate economic and social viability. The bank also considers criteria such as income levels, housing characteristics, and specific vulnerability factors when evaluating housing projects. Recent projects financed by the CEB include over 350 cooperative housing units in Catalonia, Spain, and a partnership with HOWOGE to boost affordable housing in Berlin. The bank has also been active in supporting Ukraine's urgent housing needs following the Russian invasion and has provided grants to improve living conditions for Ukrainian refugees in Lithuania.