Development and foreign affairs MEPs visit European Investment Bank
22 March 2023
To mark a year since the launch of EIB Global, a delegation of 10 MEPs from the European Parliament’s Foreign Affairs and Development committees visited the European Investment Bank in Luxembourg on Thursday, 16 March.
The delegation – led by David McAllister (EPP, DE), chair of the Committee on Foreign Affairs, and Erik Marquardt (Greens/EFA, DE), vice-chair of the Committee on Development – met with EIB President Werner Hoyer and Vice Presidents Thomas Östros, Teresa Czerwińska, Kris Peeters and Gelsomina Vigliotti to discuss EIB Global’s impact worldwide.
“It’s extremely valuable for us to meet with the European Parliament’s key committees when it comes to strengthening the impact of EU external policy – of which EIB is the financial arm. EIB Global is already reshaping the way we operate and cooperate around the world”, President Hoyer said. “Our aim is clear: to promote sustainable and equitable growth globally”.
Discussions this week focused on how the EIB is adapting and responding quickly to help the EU support Ukraine. They also focused on ensuring the success of the EU’s Global Gateway strategy, which aims to support around €300 billion of investment in key priorities such as health, green energy, transport and economic development by the end of 2027.
Top of the agenda was how the EIB and the European Parliament can work more closely together to help partner countries mitigate the global consequences of the war in Ukraine and to operate even more effectively to deliver the EU’s agenda and impact for communities around the world.
Launched in January 2022, EIB Global is the arm of the European Investment Bank that works beyond the European Union. Its investments support climate action, economic growth and development in all EU priority regions around the world.
Last year, EIB Global invested €10.8 billion beyond the European Union, including €1.7 billion in emergency relief for Ukraine to repair infrastructure damaged by Russia’s invasion.
Despite the challenges of supporting Ukraine and investing in an economic recovery after the pandemic, EIB Global, the development arm of the European Investment Bank, financed €10.8 billion in 2022, 50% more than the previous year’s figures, in its first year of existence.
An EIB delegation led by President Werner Hoyer, as well as Vice-Presidents Ambroise Fayolle, Teresa Czerwińska, Ricardo Mourinho and Thomas Östros will meet with key figures in international development and finance for talks on a range of topics, including stepping up support for Ukraine, European energy transition, delivery of the UN Sustainable Development Goals, global partnerships to accelerate climate action as well reform of the Multilateral Development Banks.
EIB Global, the development arm of the European Investment Bank, will join partners and project beneficiaries at the European Development Days organised by the European Commission on June 21 and 22, to discuss how partnerships can build more resilient connections with the world.