Challenges for the Council of Europe Development Bank

In the draft resolution, replace paragraph 2 with the following paragraph:

"The extremely uncertain economic situation and new regulatory constraints prompt the CEB to adapt, as necessary, its priorities, working methods, internal structures and governance in order to deliver "more with less" and to face the challenges posed by the present economic situation, which changed the usual patterns of social crisis. Today, in fact, the fault lines that jeopardise social cohesion no longer follow the boundary dividing eastern and western Europe, but cut a jagged path through the continent as a whole. In light of the above, the Assembly believes it is time for a review of the CEB's strategies, which have hitherto been focused on achieving goals oriented to specific geographical areas. The CEB should instead adjust its intervention policy to favour specific areas of action over geography. With a view to the more effective integration of its funding with the financial instruments of the EU, it should also promote the standardisation of the criteria used for the allocation of funds and set priorities with reference to the regional rather than the national boundaries of member states. The Parliamentary Assembly welcomes the Bank's capital increase (effective from the end of 2011), efforts to expand its membership and to boost the social added value of projects, as well as steps to adjust internal structures and strategies. In this regard, the Assembly invites the CEB to enhance the transparency of its activities, including through the online publication of the value and destination of its investments."

In the draft resolution, replace paragraph 3 with the following paragraph:

"The Assembly appreciates the fact that, despite the grim economic situation, no member State has failed to pay back loans, helped by the Bank's willingness to and assistance in redesigning some ongoing projects to help countries in budgetary difficulty. Although the demand for CEB loans temporarily decreased between 2011 and 2013, the interest in new projects is picking up again, with a strong emphasis on employment-support measures. The Assembly notes that in order to achieve the objectives of the Europe 2020 strategy, EU member States are encouraged to supplement the Union's resources with funding from the Council of Europe Development Bank (CEB). One of the strategic objectives of the CEB's 2014-2016 Development Plan is to work hand in hand with member States to help them make better use of European structural funds, starting with the European Social Fund. The European Social Fund allocates a minimum amount of investment to each EU member State and specifies that the remainder is to be distributed according to regional rather than national needs, an approach that allows for differences in wealth levels, which may be considerable, within countries."

In the draft resolution, paragraph 4, delete the following words: "- and a geographical focus on non-European Union countries in South-Eastern Europe."

In the draft resolution, at the end of paragraph 6, add the following words: "Finally, the Assembly invites all its members to advocate a change in the bylaws of the CEB that would enable it to implement policies of financial support and provide direct funding to public bodies and agencies without relying on the intermediation of private banks."

In the draft resolution, at the end of paragraph 7.2.6, add the following words: ", and proposes to member States a change in the bylaws of the CEB that would enable it to implement policies of financial support and provide direct funding to public bodies and agencies without relying on the intermediation of private banks."

In the draft resolution, after paragraph 7.2.8, insert the following paragraph:

"enhances the transparency of its activities through the online publication of the value and destination of its investments."