In the spotlight
EIB Vice-President Vazil Hudák joined two events dedicated to resilient and smart cities, organised in the framework of the 2018 WBG/IMF Spring Meetings.
The World Bank Group ‘Resilience Dialogue - The Future of Resilience: Banking on Cities’ and the Atlantic Council ‘Smart Cities, Smart Investment, Bright Future? Europe’s Mission to Innovate’ events debated how cities can better access and use financing for investments in resilience, and discussed the role that private sector investors can play.
Seven Multilateral Development Banks (MDBs) launched a new platform to enhance their collaboration on economic migration and forced displacement today on the margins of the IMF-World Bank Group Spring Meetings. The platform will advance strategic dialogue and operational coordination to maximize the impact of MDBs’ growing engagement in these two areas.
Speaking at the joint World Bank and European Commission high-level stakeholder roundtable “Crowding in Private Investments for Jobs & Sustainable Development: maximizing the Job Potential of Innovative Financing Tools”, EIB Vice-President Ambroise Fayolle reaffirmed the predominant place of private sector development in the EU Bank’s business model.
Today, the European Investment Bank (EIB), the EU Bank, and the International Monetary Fund (IMF), signed a Letter of Understanding to pool their expertise and experience to promote sustainable economic development, financial stability and inclusive growth in Africa. The EIB will contribute with EUR 3m to IMF economic institutions, namely the African Regional Capacity Development Centers (AFRITACs) and the Financial Sector Stability Fund (FSSF), and will launch a new course with the IMF on financial intermediation and financial inclusion. As well as funding, the EIB will provide guidance to the AFRITACs and FSSF by participating in their governing bodies.
The EIB at the World Bank/IMF meetings
Wednesday, 18th April
Creating Markets for Climate Business: Mobilizing Private Sector Solutions
- The International Finance Corporation’s flagship event on Creating Markets in Climate Business: Mobilizing Private Sector Solutions convened 2018 Spring Meetings delegates, public sector representatives and private sector companies who are leaders in climate action, and IFC/World Bank staff.
- With EIB Vice-President, Jonathan Taylor, IFC Chief Executive Officer, Philippe Le Houérou and Financial Times US Managing Editor, Gillian Tett
- 13:00 to 14:15 Eastern Time
- Find out more
- Global toolbox to advance private sector investment
Meeting – Heads of Multilateral Development Banks
- This event provided an opportunity for MDBs to discuss their contribution to meeting the development challenges of the 21st century.
- With EIB Vice-President, Ambroise Fayolle and Permanent Representative of the EIB Group in Washington, Romualdo Massa Bernucci
- 17:00 to 19:30 Eastern Time
Thursday, 19th April
Tackling the Root Cause of Migration: Europe’s Strategy for Economic Resilience
- The European Investment Bank and the Bertelsmann Foundation jointly organised an event on the Economic Resilience Initiative, which aimed at mobilising additional financing in support of economies in the Southern Neighbourhood and the Western Balkans.
- With EIB President, Werner Hoyer, Bertelsmann Foundation President and CEO, Aart De Geus, Grand Duchy of Luxembourg Minister of Finance, Pierre Gramegna, Polish Ministry of Finance Department of International Cooperation Deputy Director, Tomasz Skurzewski, EIB Board of Directors Member, Gelsomina Vigliotti, EC DEVCO Director-General, Stefano Manservisi, EIB Head of Operations Director-General, Jean-Christophe Laloux, and Silicon Badia Investment Associate, Dina Shawar.
- 11:00 to 12:30 Eastern Time
- Find out more
Signature – Letter of Understanding on a joint “EIB-IMF Capacity Development Platform”
- The Capacity Development Platform encompasses capacity development activities for selected target groups, regions, and topics of special interest to the EIB in which the IMF has strong technical capacities.
- With EIB President, Werner Hoyer and IMF Managing Director, Christine Lagarde
- 15:00 to 15:30 Eastern Time
Friday, 20th April
A new EIB bond product in support of Global Goals: Building a sustainable financial system
- The new EIB bond will help provide basic services such as clean water, health and education to people around the world.
- With EIB President, Werner Hoyer and EC Vice-President, Valdis Dombrovskis and UNDP Administrator, Achim Steiner
- 08:30 to 11:00 Eastern Time
- Find out more
- EIB Group: A leader in sustainable financing [PDF]
President Hoyer, keynote speaker at the American Institute for Contemporary German Studies (AICGS) at Johns Hopkins University
- The AICGS Geoeconomics Program focuses on identifying strategies for U.S., German, and European Union engagement in the global economy to promote their prosperity and broader national interests. This year, AICGS places a strong emphasis on proposals for strengthening the EU and the Eurozone. The event was a roundtable discussion on the role of EIB in the European Investment Plan.
- With EIB President, Werner Hoyer
- 12:00 to 13:30 Eastern Time
- EIB Investment Report 2017/2018: From recovery to sustainable growth
Smart Cities, Smart Investment, Bright Future? Europe’s Mission to Innovate
- Cities are more attractive than ever: an increasing number of the world’s citizens are moving to cities. Yet, this development brings up critical questions with regards to funding and investment, the modernisation of key infrastructures, and the use of information technology. Vice-President Hudák shared knowledge with local and regional decision-makers on how to improve access to funds and help them use existing funds more effectively.
- With EIB Vice-President, Vazil Hudák and Atlantic Council Senior Fellow, Barbara Matthews
- 12:30 to 13:30 Eastern Time
High-level Roundtable on Jobs and Growth
- The World Bank and the European Commission partnered to convene a high-level stakeholder roundtable on the topic of Crowding in Private Investments for Jobs & Sustainable Development: Maximizing the Job Potential of Innovative Financing Tools to tackle the daunting challenge that countries are facing to create jobs.
- With EIB Vice-President, Ambroise Fayolle, World Bank Chief Executive Office, Kristalina Georgieva and European Commissioner for International Cooperation and Development, Neven Mimica
- 14:30 to 15:45 Eastern Time
Launch of the MDB platform on Economic Migration and Forced Displacement
- Seven Multilateral Development Banks (MDBs) launched a new platform to enhance their collaboration on economic migration and forced displacement, advance strategic dialogue and operational coordination and maximise the impact of the MDBs’ growing engagement in these two areas.
- With EIB President, Werner Hoyer, World Bank Group Chief Executive Officer, Kristalina Georgieva, African Development Bank President, Akinwumi Adesina, Asian Development Bank Vice-President for Finance and Risk Management, Ingrid van Wees, European Bank for Reconstruction and Development President, Sir Suma Chakrabarti, Inter-American Development Bank President, Luis Alberto Moreno and Islamic Development Bank President, Bandar Hajjar
- 16:00 to 17:00 Eastern Time
The Future of Resilience: Banking on Cities
- This event showcased key issues faced by major global cities in building their resilience, and gave the audience a front-row seat to insights from investors on how cities can attract the resources they need for success.
- With EIB Vice-President, Vazil Hudák, 100 Resilient Cities City Solutions Vice-President, Elizabeth Yee, PwC Partner, Jessica Shannon and Kampala Capital City Authority Executive Director, Jennifer Semulaka Musisi
- 17:00 to 18:30 Eastern Time
- Find out more
Signature – Memorandum of Understanding on EIB-IDB secondments
- Multilateral development banks work together to deliver infrastructure around the world to improve people’s lives. The Panama Canal is the fruit of a cooperation between the European Investment Bank and the Inter-American Development Bank. The signature on a Memorandum of Understanding on EIB-IDB secondments will strengthen the partnership between these two international financial institutions.
- With EIB President, Werner Hoyer and Inter-American Development Bank President, Luis Moreno
- 18:00 to 18:30 Eastern Time
Signature – Agreement on the IBRD joining the Global Emerging Markets’ (GEMs) Risk Database Consortium
- The International Bank for Reconstruction and Development (IBRD) joined the Global Emerging Markets (GEMs) Risk Database Consortium – a pooling of credit performance data into a comprehensive database – jointly launched by the EIB and the International Finance Corporation in 2009.
- With EIB President, Werner Hoyer and Managing Director and World Bank Group Chief Financial Officer, Joaquim Levy
- 19:00 Eastern Time
Saturday, 21st April
Joint MDBs’ statement on raising safeguarding standards to prevent sexual exploitation, abuse and harassment
- This event will provide an opportunity for international financial institutions to share their experiences of safeguarding standards and operations in order to prevent sexual exploitation, abuse and harassment in the context of their ongoing strategies and work to promote gender equality.
- With EIB Vice-President Andrew Mcdowell
- 11:30 to 12:30 Eastern Time
Following a call from the European Council, the European Investment Bank is rolling-out the Economic Resilience Initiative. The initiative aims at rapidly mobilising additional financing in support of the capacity of economies in the Southern Neighbourhood and Western Balkans regions to absorb and respond to crises and shocks, such as the Syrian refugee crisis, while maintaining strong growth.
Gender equality is one of the founding values of the European Union, and a key objective of the Sustainable Development Goals.
It is also smart economics: empowering women is key to enhance business productivity and to catalyse economic growth, social cohesion and social justice.