President Hoyer congratulates the Nobel prize winners for their work on poverty
15 October 2019
EIB president Werner Hoyer congratulated Abhijit Banerjee, Esther Duflo and Michael Kremer, who won the 2019 Nobel Memorial Prize in Economic Sciences for their experimental work on alleviating global poverty:
“The award represents the growing recognition that poverty is an urgent - but solvable – challenge.
The work of the prize winners provides numerous practical examples of how governments and other public institutions can promote inclusive economic growth for the poor and other people left behind in society. These examples serve as an inspiration to us at the EIB. They are a reminder that there is so much more we can achieve.
The selection of this year’s winners also underlines the importance of an evidence-based approach to policy-making and investment. In the past, randomized control trials were largely confined to medical science. Thanks to the experimental trials conducted by the winners, we now know that these trials can also give many insights into how investment can reduce poverty. This should encourage all financiers to ask rigorous questions about the impact of their investments – and to use the hard evidence to continuously enhance their impact.
We would also like to celebrate their win as a win for diversity in achieving excellence. This is a clear testament to the fact that talent thrives in a diverse and inclusive environment.”
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D. the Minister for Finance, Paschal Donohoe T.D and the Minister for Agriculture, Food and the Marine, Dara Calleary T.D. today (Thursday the 30th of July) launched a €500 million expansion to the Future Growth Loan, the government’s scheme to support SMEs, farmers and fishing. The additional funding will be provided by the EIB Group.
Pursuant to Article 27 of the Bank’s Rules of Procedure, Ms Beatrice DEVILLON-COHEN (former Managing Director – Head of Derivatives Trading, Société Générale, London) was proposed as a candidate to perform the duties of an observer to the Audit Committee.
By letter dated 11 June 2020, Mr Audrius LINARTAS (Executive Director at the Authority of Audit, Accounting, Property Valuation and Insolvency Management under the Ministry of Finance, Lithuania) was nominated by the Republic of Lithuania, by common accord with the constituency of the Republic of Estonia, the Republic of Latvia, the Republic of Austria, the Republic of Finland and the Kingdom of Sweden for appointment as a member of the Audit Committee of the European Investment Bank.