What is the EIB?
EIB is the “European Union’s bank”. A not for profit bank that was established in 1958 in order to rebuild Europe after the Second World War. In the meantime it has grown into the largest international financial institution (IFI) in the world.
In 60 years, the EIB grew into the biggest International Financial Institution in the world
What does it do?
It provides money and expertise for “projects that contribute to EU policy objectives.” Essentially, its work involves lending money to projects that help to develop EU (and other) countries such as infrastructure, green energy and small and medium enterprises.
How much of its investments are outside of Europe?
About ten percent of EIB portfolio finances projects in 150 countries outside of Europe.
How does the bank raise money?
It sells its bonds on capital markets. It is also managing facilities entrusted to it by EU institutions, such as the Investment Facility for ACP countries.
What is the ACP Investment Facility?
Part of the European Development Fund entrusted to the EIB. It is a revolving fund, meaning that the repayments and interest are reinvested in new projects. It also offers grants.
Since 2003, the member states have contributed a total of 2.6 billion Euro to the IF
Which are the ACP countries?
The African, Caribbean and Pacific Group of States (ACP) is a group of countries in Africa, the Caribbean, and the Pacific that was created by the Georgetown Agreement in 1975.
How long has the EIB been active in the ACP countries?
The first loan to a country of the current ACP was already in 1965 to textile industry in Cameroon and a banana boxes fabricant in the Ivory Coast
What is the Cotonou Agreement?
A treaty between the European Union and the ACP states. It is aimed at the reduction and eventual eradication of poverty while contributing to sustainable development and to the gradual integration of ACP countries into the world economy.