The EIB President is invited to attend the meetings of the ECOFIN (Economic and Financial Affairs) Council and the EIB is present at meetings of preparatory bodies, such as the EFC (Economic and Financial Committee), making available its expertise on economic issues and the financing of capital investment. Moreover, the Council of the European Union, also known as the Council of Ministers, frequently requests the EIB to implement new initiatives requiring banking or financial instruments, such as mandates to operate around the world.
The members of the ECOFIN Council are also, as a general rule, members of the Bank's Board of Governors (i.e. the Finance Ministers of the Member States), thereby ensuring that the EIB's financing policies are consistent with the economic policy of the Union.