Climate at the heart of the deepening partnership between the EIB and Inter-American Development Bank
12 October 2018
A partnership focused on supporting projects to promote climate action and attract private investment. That’s what marks the work the EIB and IDB are doing together in Latin America and the Caribbean: from a new metro system in Bogota to the post-disaster climate resilient reconstruction in Haiti. This focus on clean transport, resilient and green infrastructure as well as renewable energy was the main theme of discussions this week between the two delegations on the margins of the IMF/WBG annual meetings in Bali.
The IDB and EIB Presidents Luis Moreno and Werner Hoyer were joined by EIB Vice-Presidents Emma Navarro – responsible for lending in Latin America – and Ambroise Fayolle – in charge of development policy.
Vice-President Emma Navarro said after the discussions: “This is an extremely important partnership. And our meeting confirmed that it is going from strength to strength. The EIB and IDB have a common understanding of the challenges ahead and what is crucial is that we are learning from each other as institutions as to the kinds of solutions that are needed to meet these challenges.”
Head of Global Partners Maria Shaw Barragan, who also took part, added: “Meeting with our fellow Multilateral Development Banks is really valuable. The annual IMF/WBG meetings give us a chance to do that and to build on each other’s strengths. For example, the local presence of the IDB in the region, combined with the EIB’s expertise in financial instruments and experience dealing with global challenges like displaced populations, make this a precious collaboration.”
The EIB Group has stepped up its level of precaution at its headquarters in Luxembourg and in its external offices. All staff will telework as of 16 March. A small number of staff whose physical presence on EIB premises is indispensable will continue to be present on the EIB campus. The decision aims to protect the health of employees and ensure the continuity of the EIB Group’s activity.
On Wednesday the EIB identified its first case of one staff member who tested positive for corona virus.
As a precautionary measure, the EIB decided not to hold the meeting of its Board of Directors planned for Thursday 12 March in person. Decisions on the Board’s agenda will be taken by written procedure. The Bank has put in place measures to prevent disruption to its governance or operation approval schedule.
On Monday 2 March, the former President of the European Council, Donald Tusk, visited the EIB in Luxembourg on a joint invitation from the Bank, the European Stability Mechanism (ESM) and the Court of Auditors.