In 2013, all CEF constituency countries were invited to join the Agreement on Establishing the Center of Excellence in Finance (CEF). The Agreement entered into force on December 28, 2014, thirty days after three signatory countries deposited their instruments of ratification.

Today, the CEF has eight member countries whose ministers of finance and central bank governors form our Governing Board in addition to up to three members of the CEF Advisory Board. While the CEF continues to serve the 12-country constituency in South East Europe, the member countries on our Governing Board drive our governance. CEF membership is open to any country or international organization that is interested in the promotion of knowledge exchange, delivery of training, and facilitation of technical assistance in public financial management, central banking, and other areas of public administration.

The Headquarters Agreement between the Government of the Republic of Slovenia and the Center of Excellence in Finance (CEF) constitutes the second international treaty—alongside the Establishment Agreement for the CEF—that consolidates the CEF's status and legal personality under international law. It was signed on December 18, 2014.

With its new legal status, the CEF implemented a revised governance structure, comprising the Secretariat, the Governing Board, and the Advisory Board, each with distinct yet complementary mandates and responsibilities. The Secretariat consists of the CEF staff, director, and experts. In 2015, we had 23 members; today our team has grown to 45.

The CEF Governing Board convened for the first time in March 2015, during which it adopted three key legal framework documents: the Rules of Procedure and Governance, the Financial Rules, and the Employment Rules. Its first chair was Dušan Mramor, Minister of Finance of Slovenia. The chairing of the Governing Board rotates annually, following the alphabetical order of CEF members, between successive annual Governing Board meetings.

Members of the CEF Governing Board are also up to three members of its Advisory Board. The Advisory Board is an advisory group of experts from our donors and partners. It assists in designing and in coordinating the delivery of activities of the CEF. In 2015, the Advisory Board was chaired by Mitja Štrukelj, Ambassador at the Ministry of Foreign Affairs of Slovenia.

In 2016, Albania became the seventh country to become CEF member, after the Governing Board endorsed its request for membership.

This was also the year when the CEF celebrated its 15th anniversary. Since our establishment in 2001, demand for capacity development in South East Europe has grown significantly. The number of participants attending our learning events has risen by more than ten times – from 89 in 2001 to 1,076 in 2016.

To meet the evolving needs of our learners, we launched the CEF Online Learning Campus—an internally-designed platform to engage public officials from our region and beyond in collaborative, flexible learning. Building on our foundation of face-to-face learning, we expanded our offerings to include a broader range of online formats, such as webinars, blended and fully online courses, and other interactive activities. This strategic shift enabled us to reach a wider audience, offer greater flexibility, and enhance the overall learning experience, reinforcing our position as a modern, learner-centered organization.

In 2017, the CEF Governing Board appointed Jana Repanšek as Director, beginning her first five-year term on July 1. Jana had previously served as Deputy Director, bringing extensive experience and leadership to her new role. Her appointment followed the retirement of the long-term Director Mira Dobovišek.

In 2018, we successfully passed the European Commission’s Pillar Assessment, confirming our organization’s diligence in financial management and control. This assures the European Commission and other donors that CEF has the capacity to manage EU funds on their behalf.

With this positive assessment confirming that key processes were in place to support sound project and financial management, we received green light to prepare for our first major capacity development project for South East Europe funded by the European Union, Fiscal Implications of Structural Reforms (FISR).

This milestone enabled us not only to expand our donor base but also to significantly increase our revenues, broaden our learning program, and enhance our overall impact.

Throughout 2019, we supported our member institutions in becoming knowledge hubs and learning organizations. We strengthened partnerships with key stakeholders and refined our approaches to learning, monitoring, and evaluation, particularly in the thematic areas of public financial management, tax policy and administration, central banking, and leadership for managing reforms. Responding to the evolving needs of our constituency, we also expanded our thematic focus to include a new cross-cutting area: data and analysis for designing policies.

To complement these developments, we also invested in improving our physical learning environment. Following the renovations of our lobby and terrace, we renovated one of the two main classrooms to improve the in-class learning experience of our participants and offer them a supportive and innovative learning environment. The new furniture and equipment were carefully selected to support the adaptability of the space, aligning with our commitment to modern, learner-centered organization.

Although the circumstances brought by the pandemic were far from favorable for growth, we successfully expanded both the scope and reach of our activities. We delivered 74 learning and knowledge-sharing activities, attended by 2,526 participants, a 51% increase compared to 2019. To adapt to the new realities, we optimized workflow processes for an online-only environment, enhanced internal and external information and knowledge sharing through various channels, boosted the visibility of our work through increased online presence and promotion, and strengthened our capacity for facilitation and participant engagement. These efforts reflect how adaptability and innovation enabled us to make significant progress despite the challenges, marking 2020 as a year of resilience and growth.

2021 was a milestone year, marking 20 years since our establishment on January 11, 2001. To celebrate the 20th anniversary of our successful operations, events took place throughout the year.

The CEF Governing Board confirmed our 2022-2026 CEF Strategic Direction which included the CEF narrative for the region in 2026 and refreshed mission and vision statements. As part of our new strategic direction, we also revised our logo with a simple and powerful slogan: Connect. Learn. Act.

A significant part of our work focused also on developing our own methodology to support public institutions in becoming and being learning organizations. This methodology consists of six building blocks and reflects our value-added in promoting lifelong learning and knowledge sharing within and across public institutions.

The number of CEF team members and the volume of our services adjust according to demand, available human and financial resources, and our ongoing commitment to quality and innovation, promoting the stability and resilience of the CEF.

Through the years, the CEF team has grown significantl—from just 3 members in 2001 to 34 in 2022—reflecting the steady expansion of our activities and the increasing demand for our services. The team, representing diverse backgrounds from Albania, Georgia, Germany, North Macedonia, Serbia, Slovenia, and Türkiye, brought valuable international experience and language skills, enhancing our ability to serve our constituency and supporting our mission to foster knowledge sharing and learning across borders.

In 2023, Croatia ratified the Agreement on Establishing the Center of Excellence n Finance (CEF) signed in 2013 and thus became the CEF's eighth member. Current CEF members are Albania, Bulgaria, Croatia, Moldova, Montenegro, North Macedonia, Romania, and Slovenia.

The CEF plays an active role in supporting Slovenia's international development efforts, particularly in promoting good governance. We proudly recall our participation at the 11th Slovenian Development Days, where we contributed to vital discussions on the challenges of international development cooperation amidst growing global crises and threats to peace, security, and human rights, reaffirming our commitment to sustainable development and regional collaboration.

We also launched the EU-funded project “WeLead: EU Scheme for Young Professionals in the Western Balkans” (WeLead), aimed at contributing to good neighborly relations and the advancement of the EU integration process of the Western Balkans through improved regional cooperation of young people.

We expanded our program to include new learning opportunities focused on greening human capital and advancing sustainable development. At our bi-annual meeting with the CEF Coordinators—key professionals responsible for capacity development and human capital management in the CEF constituency institutions—we addressed pressing regional issues such as climate change and financial instability. Together, we explored strategies for transitioning public institutions towards sustainable governance, reflected on current challenges, and set priorities for future collaboration. The meeting concluded with a strong commitment to advancing sustainable governance and strengthening the capacity of public institutions through teamwork.

We updated our Strategic Direction for 2025–2029, which builds upon and refines our 2022–2026 strategy. This update reflects key shifts in our environment, our transition toward multi-year project funding, and valuable lessons learned from our work. As we move forward, we remain committed to serving as a leader in learning, inspiring public officials at individual, team, and institutional levels to shape governance in their respective fields. Our ultimate aspiration is to contribute to successful economies and fair societies across our region.