Cooperation with other institutions and organisations
Over the past years, the EIB has developed a solid cooperation framework with several International Financing Institutions (IFIs) and other international and European organisations operating in the region.
EIB is developing strong partnerships with the World Bank Group (IFC and IBRD) and the Kreditanstalt für Wiederaufbau (KfW) – the German Development Bank. It has already developed a strong cooperation with the European Bank for Reconstruction and Development (EBRD) and the Nordic Investment Bank (NIB) to support operations in the region.
- Cooperation with the European Commission
With a view to supporting EU external action, by Council Decision 2006/106/EC the EIB is granted a Community guarantee against losses under loans and loan guarantees outside the Community.
Under the Memorandum of Understanding signed on 26 May 2008 between the EIB and the European Commission, based on the Council Decision 2006/1016/EC, the Commission has been given a key role in consolidating the policy dialogue between the two institutions in respect of cooperation and coordination in the regions outside the EU. EIB shall request the EU Commission opinion on all financing operations within the framework of the procedure provided for in Article 19 of the Statute of the EIB.
Following the ruling by the European Court of Justice (6 November 2008) recognising the right of co-decision of the European Parliament over the EIB external lending mandate, both the European Parliament and the Council adopted Decision No 633/2009/EC of 13 July 2009, which now constitutes the current legal framework to grant a EU guarantee to the EIB against losses under loans and loan guarantees for projects outside the EU.
According to Decision No 633/2009/EC of 13 July 2009, the EU guarantee shall cover EIB financing operations signed during the period beginning on 1 February 2007 and ending on 31 October 2011. In case no agreement has been reached between the two institutions on the mandate until this latter date, that period shall be automatically extended by 6 months.
In any case, the EIB operations signed under the previous Council Decisions 2006/1016/EC and 2008/847/EC, as well as the operations already signed under Decision 633/2009/EC, shall continue to benefit from the EU guarantee.
- Cooperation with the EBRD
EIB operations in the Eastern Neighbours are carried out in close cooperation with the European Bank for Reconstruction and Development (EBRD), on the basis of a tripartite Memorandum of Understanding (MoU) signed on 15 December 2006 between the EIB, the EBRD and the European Commission.
The two institutions share appraisal work and carry out joint appraisal missions. The division of labour is typically that the EBRD performs the financial analysis / projections modelling and the security structuring, and the EIB the project technical/economic appraisal work. The two institutions then use the work of the other institution as input to their respective, independent, credit and project evaluations. Accordingly, all operations signed to date in the Eastern Partners are co-financed with, inter alia, EBRD.
- Cooperation with the Nordic Investment Bank
The two banks co-operate in a relevant number of projects in the region (notably five in Russia, four of which under the NDEP). Both banks are members of the Northern Dimension Environmental Partnership.
To further enhance the cooperation between the EIB and the NIB, the two banks will closely coordinate and cooperate in the financing related to the implementation of the Baltic Sea Strategy, also by working together in the Financial Experts Group. The role of this Group will be to provide advice and information to project promoters and the public sector on the financing possibilities for the projects that are to be implemented under the Strategy.
Baltic Development Forum is an independent non-profit networking organisation with members from large companies, business services, institutional investors and business associations in the Baltic Sea region. The Forum's mission is to promote the Baltic Sea Region as an integrated, prosperous and internationally competitive growth region.
As the leading high-level and agenda-setting networking organisation in Northern Europe, the Forum facilitates and develops new initiatives, partnerships and international contacts to stimulate growth, innovation and competitiveness in the Baltic Sea Region and its 11 dynamic countries. EIB is one of the strategic partners of the Baltic Development Forum, by supporting the work and activities of the organisation.
On 1-2 June 2010 Lithuania hosted the Summit of the Baltic Development Forum, which took place in Vilnius.