The European Commission

Close co-operation with the European Commission is provided for in the Bank's Statute (consultation regarding individual proposals for projects; representation on the Bank's Board of Directors). EIB maintains further strong operational links with the Commission, as initiator and executive body for many areas of EU policies relevant to the Bank, with a view to maximising the synergies between EIB lending and EU budgetary resources in furthering common objectives.

This applies particularly to activity aimed at fostering regional development and economic and social cohesion in the EU - the EIB's main operational priority, research and development, environmental protection and improvement, preparing the Accession Countries for EU membership and contributing to the EU's development and cooperation policies with Partner Countries.

The Commission is invited to attend meetings of the Bank's Board of Governors. EIB is frequently mentioned in proposals and reports issued by the Commission on subjects which have a bearing on EIB activity.

Close work with the Commission

We work very closely with all EU institutions, but particularly the European Commission through instruments such as JEREMIE (providing flexible SME funding), JESSICA (supporting urban development), JASPERS (providing new EU members’ with infrastructure project advice), RSFF (sharing RDI risk and sharing PPP experience with EPEC). The SME funding specialists the European Investment Fund (EIF) is owned by us (62.1% of the shares) with most of the rest held by the EU, represented by the Commission.