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We are the world’s largest multilateral borrower and lender. In November 2019, the EIB’s Board of Directors demonstrated the EIB’s commitment to support the energy transition by adopting the new energy lending policy (ELP), which phases out EIB support to energy projects reliant on unabated fossil fuel by the end of 2021. The EU heads of government agreed to increase paid-in capital by EUR 10 billion in June 2012, with implementation expected in early 2013. [23], The EIB president is the head of the Management Committee, a nine-member executive body that is responsible for the day-to-day operations of the EIB. Join the bank that invests in the things that matter! Peter Cheney explains its role. However, that compares to total investments of €398 million in Cyprus and €288 million in Hungary so far this year, reflecting greater infrastructure needs. A new ‘greener’ government or a government of ‘silos’? The EIB is the EIF's majority shareholder, with 62% of the shares. [44] In 2010 the EIB updated its transparency policy following a public consultation. Please enable Cookies and reload the page. The EIB has offices in the different EU countries, including Athens, Berlin, Brussels, Bucharest, Fort-de-France, Martinique (one of France's overseas departments); Dublin, Helsinki, Lisbon, Lubliana, Madrid, Paris, Rome, Sofia, Warsaw, Copenhagen and Vienna. This will increase its lending capacity by €60 billion over three or four years. 98 - 100 boulevard Konrad Adenaue, Luxembourg, Luxembourg Phone: +352 43 791 Description Expired Jobs Events - , - , Post a Job + Post a Job. In that year, €60.9 billion of loans were signed off: 88.2 per cent within the EU and the reminder to neighbouring or developing countries.

Enter your email to restore your password. profile of European Investment Bank from the Yearbook of International Organizations, a service of the UIA. About 90 % of loans are made within the EU. Our excellent rating allows us to borrow at good rates.

Subscribe and receive monthly updates of the EIB’s activities around the world. To foster the implementation of these targets, we also conduct a yearly independent assessment of our performance.

Corporate responsibility is embedded in the EIB’s mission and Corporate Operational Plan. [12], On 14 November 2019, the EIB announced that it would stop funding new, unabated, fossil fuel projects from the end of 2021, including an end to funding for natural gas.

Terms This process is automatic. The European Investment Bank (EIB) is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome. Contact one of our intermediaries! Subscribed capital stood at €232.4 billion on 31 December 2011. Hear Derval Cummins @AECOM on 18th November… https://t.co/GYHJCvH6Bx, Transport Ireland 2020 Virtual Conference [50][51], Reports in 2010 and 2015, from a coalition of NGOs, implicated the EIB in tax avoidance by lending to businesses that use tax havens.

Our corps of 300 engineers and economists screens every project, before, during and after we lend. In 2004, Article 19 issued a memorandum in which it accused the EIB of failing to meet international (including EU) standards on openness. [24] The other eight members are vice-presidents. This way, the EIB Group contributes to sustainable development and is held accountable by stakeholders and society.Our corporate responsibility report defines clear targets on which we report yearly. Improving lives and creating jobs around the world. [16], The EIB addresses complaints internally and the bank can also be referred to the European Ombudsman if concerns about maladministration persist. Engaging with civil society organisations, Discover the role of the EIB, its priorities and key dates and figures, Find out more about our decision-making structure, processes, and associated controls, Read about our commitment to sustainable development, the foundation of our business model, Find out how we listen to citizens when they need information or have concerns about EIB projects, policy or activities, Discover how EFSI helps overcome the investment gap in the EU.

In line with other multi-lateral banks, its 1,950 staff includes an in-house ‘corps’ of 300 engineers and economists who assess proposals against strict economic, technical, environmental and social standards. eolas provides in-depth coverage of key issues and regular features including: public sector reform, health, education, environment, energy, business & economy, north-south, voluntary & community, public affairs, media profile and people. We’re accountable to EU citizens. [25], The shareholders of the EIB are the 27 member states of the EU, while each state's share in the EIB's capital is based on its economic weight within the European Union (expressed in GDP) at the time of its accession. Online Conference Compliance and Operational Risk (COR), in charge of European Investment Fund Compliance and Operational Risk. [22], In 2007, the EIB opened a regional office in Helsinki, located at the headquarters of the Nordic Investment Bank (NIB), with the aim of enhancing the Bank's presence in the Baltic Sea region. The eolas magazine digital edition is released each month – keeping you up to date with the latest political, public affairs and business developments. Lending mainly covers loan finance (typically over 4-20 years) and also guarantees, micro-finance and equity investment. The European Investment Bank (EIB) is a publicly owned international financial institution whose shareholders are the EU member states. European American Investment Bank AG is the 220th largest bank in Austria in terms of total assets. Subscribers will also receive announcements on upcoming conferences. [45] The latest update of the Transparency Policy in 2015 equally followed a public consultation. EU finance ministers make up the board of governors, while the board of directors approves loans. European Investment Bank (EIB) provides lending, borrowing, and treasury services primarily in the European Union. Their mandate is to authorise EIB activities outside the Union, form credit policy guidelines and approve the annual accounts. So we pass these good rates onto our clients. How we have grownOur HQ: Founded in Brussels in 1958 as the Treaty of Rome comes into force, we moved to Luxembourg in 1968. EIB - European Investment Bank.

Most commentary on the continent’s banking centres on the European Central Bank, established in 1998 to serve the euro zone members (now with 17 members) and based in Frankfurt. [6] In 2012, the EIB Institute was created, with the goal of promoting "European initiatives for the common good" in EU Member States and candidate and potential candidate countries, as well as EFTA nations. [7] The capital of the EIB was virtually doubled between 2007 and 2009 in response to the financial crisis.

We are the world’s largest multilateral borrower and lender. [20] The building's first phase, now the West building, was designed by British architect Sir Denys Lasdun and is one of his few works outside the UK. The member states set the bank's broad policy goals and oversee the decision-making bodies of the bank: its board of governors and board of directors. "[16] Examples of planned expenditures include the Just Transition Fund which "will finance up to 75% of projects such as reconversion of coal mines" in coal dependent regions. The initiative identifies projects that fight plastic waste in rivers, seas and on land. Despite the European Investment Bank’s relatively low profile, it has had a major tangible impact in Ireland since the State joined the EU. All the projects we finance must be bankable. We are the only bank owned by and representing the interests of the European Union Member States. Privacy, Our sites: EirGrid’s East-West Interconnector received the single largest investment (€300 million), followed by Dublin Airport’s Terminal 2 (€260 million). Compliance is integral to the Bank’s ethical, professional and business approach.The independent EIB Compliance function promotes the highest standards of integrity and ensures that they are applied to all of the Bank’s activities, as outlined in our integrity policy and compliance charter.As well as combating money laundering and the financing of terrorism, the Compliance function strongly supports a corporate culture based on ethical values and professional conduct.The Compliance function identifies, assesses, monitors and reports compliance risk. Investments between 2006 and 2010 totalled €2.63 billion: 44 per cent for energy and 35 per cent for transport. Looking for an SME loan? But they also must comply with strict technical, environmental and social standards. By continuing to browse this site you are agreeing to our, Transport infrastructure and Covid-19: Never waste a crisis. We are the biggest multilateral financial institution in the world and one of the largest providers of climate finance. Contact one of our intermediaries! Now we work with over 150 non-EU states which receive around 10% of our funding.European Investment Fund: The EIF was founded in 1994 to specialise in SME and venture capital investment. We work closely with other EU institutions to implement EU policy.

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