Zelenskyy appoints Deputy Finance Minister Zykova Ukraine’s representative in CEB Administrative Council

President Volodymyr Zelenskyy has appointed Deputy Minister of Finance Olha Zykova as the representative of Ukraine in the Administrative Council of the Council of Europe Development Bank (CEB).

This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.

In June 2023, Ukraine completed the accession process and became the 43rd member state  of the Council of Europe Development Bank.

The Bank's cooperation with Ukraine is one of the objectives of the CEB Strategic Plan for 2023-2027 years.

Within the framework of the Bank's current mandate, the priority areas of financial assistance are to support the social and humanitarian spheres of the countries in which the Bank implements its projects.

That is why the key issues in further cooperation with the Bank will be long-term development and recovery.

As Ukrainian News Agency earlier reported, the Council of Europe Development Bank is a multilateral development bank whose unique mission is to promote social cohesion in 43 member states across Europe. The CEB funds investments in social sectors including education, health and affordable housing, focusing on the needs of the vulnerable.

The powers of the CEB Administration Council include a number of responsibilities, in particular, the establishment and control of the Bank's policy, the approval of investment projects submitted by state governments.

They also include determining the conditions under which member states of the Council of Europe become members of the Bank, setting conditions for European states that are not members of the Council of Europe, and international institutions with a European focus for gaining membership in the Bank and suspending the membership of states, voting for the adoption of the Bank's budget.