Assessing impacts on jobs and growth

The EU bank at a glance
Some dates and figures
EIB Group impact: Boosting GDP and jobs
Governance and structure
Statutory bodies
Board of Governors
Ethics and Compliance Committee
Appointment Advisory Committee
Board of Directors
Board Committee on Staff Remuneration and Budget
Board Committee on Risk Policy
Board Committee on Equity Participation Policy
Management Committee
Audit Committee
Control and evaluation
Organisation structure
Corporate responsibility
Providing finance
Reporting on sustainability
Internal Commitment
Tax good governance
Complaints and investigations
Complaints Mechanism overview
What we do
The complaints process
Submit a complaint
Frequently Asked Questions
Investigating Prohibited Conduct
How to report Prohibited Conduct
Part of the EU family
Tackling global challenges together
Together on forced displacement and migration
Together on infrastructure
National Promotional Banks
Civil society
Key policies and standards
The EIB’s commitment to transparent lending
Banking community
Multilateral development banks
Civil Society and Stakeholder Engagement
Transparency and access to information
Key policies and standards
Policy engagement
Civil society events
Contact us
Work with us
We invest in you
Life outside the office
Current vacancies
How to apply
Economic research
European research hub
Our research
Surveys and data
Promoting dialogue
Assessing the macroeconomic impact of EIB activities

Assessing impacts on jobs and growth

    •  Display in:
    • de
    • en
    • fr
  • Available in: de en fr

EIB Group impact on employment - the short- and long-term impact of EUR 232 bn of investment in 2017

EIB economists are working in collaboration with the European Commission’s Joint Research Centre in Seville, using a macroeconomic model called RHOMOLO to assess the impact of operations supported by EIB Group and EFSI on jobs and growth in Europe.

This work complements the banks other impact assessment activities. While investment outputs and outcomes are assessed at a project level (through for example the Results Measurement framework), the wider economic impact of such activities in terms of indirect and induced effects typically cannot be measured at a project level, as they reflect complex economic interlinkages.

For example, when an internet cable is laid, it is possible to directly measure project outputs and outcomes such as project employment, kilometres of cable laid, households connected, and the increase in data transmission speed. However, the wider economic impact of things such as the production of the cable, increased spending by project workers, and the effects of faster internet on the market access and competitiveness of regional businesses, is much harder to capture at the project level. Special efforts can be made to explore these impacts for individual projects (see also the EIB collaboration with the Global Development Network), but on a broader scale, macroeconomic models are used to estimate overall impact in terms of GDP and jobs.

The RHOMOLO model is a well-established model that was originally developed by the European Commission to assess the macroeconomic impact of EU policies, such as EU cohesion policy, to determine whether scarce public financing is being used effectively. The EIB’s collaboration with the Joint Research Centre is focused on adapting the model to make it fully applicable to the EIB, and using it to assess the macroeconomic impact of investments supported by the EIB Group, including under the European Fund for Strategic Investments.

For results and further information see:

An in-depth methodological report describing the model - Assessing the macroeconomic impact of the EIB Group

Podcast – An economic model, a million equations and Lego

Press Brief – EIB Group macroeconomic impact assessment

Blog story about the results for 2015-2016 – Big jobs, growth impact from EIB and Investment Plan

Press release about the results for 2015-2016 – New figures on impact of EIB Group investment on jobs and growth: 2.25 million more jobs expected by 2020