Werner Hoyer, President of the EIB, delivered a keynote address during the roundtable "Innovative solutions to unlock SDG investments" of the High-level Dialogue on Financing for Development.

  Find out more about our participation at the 78th session of UNGA

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Ladies and gentlemen,

Let me thank our hosts for bringing us together today.

Listening to Prime Minister Hasina, we are reminded that we must give hope to the most vulnerable. Not based on false promises, but on concrete support, on solidarity, and on true partnership.

Let’s turn reluctance into action. We know there are cracks in the multilateral system.

Let’s not paper over these. Let’s address them.

The European Investment Bank is here in New York to listen, to learn and share ideas and solutions with our partners.  

For example, the EIB has heard the call expressed through the Bridgetown Initiative:

  • we have extended maturities and grace periods,
  • we are increasing technical assistance so projects can deliver greater impact, and
  • we are launching pilot clauses to defer debt service in case of climate emergencies and natural disasters in vulnerable countries.

Multilateral Development  Banks (MDBs) like the EIB can play a key role in accelerating the delivery of financing. We can support our clients in the public and private sector, turning needs into investment opportunities.   

Last year, we have increased our financing activities in all regions, working together with our partners in the EU and globally:

  • from financing primary healthcare around the world, to green hydrogen in Latin America,
  • from water desalination in the Middle East, to mini energy grids that deliver to local communities in Madagascar, our projects reflect our unwavering commitment to climate action and the delivery of the Sustainable Development Goals (SDGs).

Not just in name, not just in number, but in impact on local communities globally.

MDBs must do more. They must focus on doing the right things. But, also, on doing things right.

For example, our family agreement signed with the UN will enable us to leverage on our respective strengths:

  • the UN with its unparalleled reach and commitment, and
  • the EIB with its financial and technical expertise.

MDBs can take risks that the private sector is not willing to shoulder, going into sectors where economic profitability is as yet unclear with what we call “patient” capital.

Count on the EIB, the EU bank, to play its role and make change happen.

Thank you.