The Council of Europe Development Bank is a multilateral development bank active in Europe. It promotes the principle and mission of the Council of Europe through its mission of actively promoting social cohesion and strengthening social integration in Europe. The main activity of the Council of Europe Development Bank is to provide financing and technical expertise for projects with a high social impact in its member states. It grants low-cost loans to finance social projects for governments, local or regional authorities, and public or private financial institutions. The bank was established in 1956 by 8 members of the Council of Europe and currently the bank has 42 shareholders which are all member states of the Council of Europe. The bank is headquartered in Paris.