EU finance ministers make up the board of governors, while the board of directors approves loans. ‘Blending’ is the unlocking of finance from other sources, principally the EU budget. The European Investment Bank (EIB) is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome. [8], Although about 90 percent of projects financed by the EIB are based in EU member countries, the bank does fund projects in about 150 other countries—non-EU Southeastern European countries, Mediterranean partner countries, ACP countries, Asian and Latin American countries, the members of the Eastern Partnership and Russia. The European Investment Bank is the lending arm of the European Union. Contact one of our intermediaries! From poverty to prosperity: our development impact. [13][14][15] Current projects, such as the Trans Adriatic Pipeline, will not be affected. The EIB is the European Union`s bank. An extension, the East building, was designed by Ingenhoven Architects, Düsseldorf.

We also work with a bank-wide network of corporate responsibility champions, who are experts in the different key building blocks of our Corporate Responsibility Performance, in order to engage the staff in understanding and promote best practice within the bank.Our good corporate citizenship. The bank generally finances one-third of project costs, and not more than 50 per cent, and aims to achieve a multiplier effect, attracting additional funds from the public and private sectors. Michael Somers, the former Chief Executive of the National Treasury Management Agency, is an alternate Director for Ireland. We relocated to our current site in 1980 with a major new building extension completed in 2008.Lending: From ECU 10bn in 1988, our annual lending neared EUR 45bn in the mid-2000s before jumping to EUR 79bn in 2009 as a temporary response to the crisis.

[47] Following a recommendation of the European Ombudsman the EIB released a summary which stated their investigation had been "non-conclusive". In association with the @TFIupdates… Despite the European Investment Bank’s relatively low profile, it has had a major tangible impact in Ireland since the State joined the EU.

As a "policy-driven bank" whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about "European integration and social cohesion". To foster the implementation of these targets, we also conduct a yearly independent assessment of our performance. 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. Board of Governors – usually the Finance Ministers of the Member States. We are the biggest multilateral financial institution in the world and one of the largest providers of climate finance. [16], The EIB addresses complaints internally and the bank can also be referred to the European Ombudsman if concerns about maladministration persist. We provide finance and expertise for sustainable investment projects that contribute to EU policy objectives.

Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. Covered by a glass roof that spans the entire structure, the extension adds 72,500 meters of office space.[21]. [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. Hear Derval Cummins @AECOM on 18th November…, Transport Ireland 2020 Virtual Conference Please enable Cookies and reload the page. [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. 18th November Environmental XPRT is part of XPRT Media All Rights Reserved. [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. None of the money comes from the EU budget EU finance ministers have "called on all multilateral development banks, such as the World Bank and the Asian Development Bank, to phase out financing of fossil fuel projects. [])), +((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+[])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![])+(!+[]-(!![]))+(!+[]-(!![]))+(!+[]+(!![])+!![])+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]))/+((!+[]+(!![])+!![]+!![]+[])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!! Board of directors – twenty-eight members (one nominated by each member state and one by the European Commission). Looking for an SME loan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ithin the EU the EIB has six priority objectives: Outside the EU the EIB's priority objectives for lending activity are: When making loans outside the EU, the bank has lending mandates based on EU external cooperation and development policies, which differ from region to region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

[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. The eolas magazine digital edition is released each month – keeping you up to date with the latest political, public affairs and business developments. Together on forced displacement and migration, Intermediated loans for SMEs, mid-caps and other priorities, Investments in infrastructure and environmental funds, Guarantees in support of SMEs, mid-caps and other objectives, The European Structural and Investment Funds (ESIF) - financial instruments, Connecting Europe Facility Debt Instrument, Sub-Saharan Africa, Caribbean and Pacific, Coronavirus pandemic: All about the EIB Group’s response.

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