EIB joins fellow development finance institutions in launching new joint country analysis website
10 April 2019
Country-focused analysis from international financial and development institutions will be brought together and accessible to decision-makers, researchers and the civil society.
Leading development finance institutions have launched a new joint website that provides in-depth economic analysis of the countries they support and helps them address key challenges.
The Country Diagnostic Platform (www.countrydiagnostics.com) will publish diagnostic papers that identify obstacles to progress as well as opportunities for development.
They can serve as the basis for country strategies guiding the investment and policy work of the six institutions taking part in the initiative: the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the International Financial Corporation (IFC), the World Bank (WB), together with development agencies of the United Kingdom (DfID) and Sweden (SIDA).
For some institutions, which are involved in or have a specific focus on private sector development, such as the EIB, EBRD and IFC, the diagnostics focus on constraints to private sector growth and how they can be overcome.
The website was launched on 10 April 2019, during the Spring Meetings of the IMF and World Bank Group in Washington, D.C. and provides access to more than 170 links to diagnostics from the six institutions.
Speaking at the launch, Debora Revoltella, Director of the EIB Economics Department said: “Working together as closely as possible is the way forward if we truly want to make a difference as development institutions. This initiative on country diagnostics is a unique opportunity to share our views and jointly deepen our understanding of countries’ investment needs and hurdles. It will help us to make our support to Partner Countries better targeted towards promoting resilient and inclusive growth.”
International financial institutions have been developing their own country diagnostic tools for a number of years now to help shape their individual priorities and inform their engagement with authorities in countries of operations.
In order to share this information effectively across the institutions, the six groups formed a Country Diagnostic Working Group that allowed for cross-referencing and cross-institutional collaboration. The website brings all this work together in one platform.
Following the launch of the new website at the Spring Meetings, the Working Group will come together again in Washington, D.C. in May. The May session will focus on methodologies, technical issues and use of country diagnostics in shaping the programmes of the six institutions and helping to make sure they maximise the impact of their activities in accordance with their mandates.
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.