- First visit of EIB Vice President, Ricardo Mourinho Félix to the region
- Vice President, Ricardo Mourinho Félix will outline support for the region and discuss new financing opportunities
- Meetings with high-level representatives and a company supported with EIB investment demonstrate the EIB’s strengthened engagement in the region
Ricardo Mourinho Félix, Vice President of the European Investment Bank, will lead a high level delegation, alongside the EU Ambassador to Argentina, Amador Sánchez Rico, during his first visit to Latin America as Vice President responsible for the region.
The European Investment Bank (EIB) delegation is on a three day visit to the region, to reaffirm the EU bank's commitment to maintain its support for projects promoting sustainable development in Latin America. Ricardo Mourinho Félix will announce two new projects in Buenos Aires and will hold meetings with key stakeholders to cement the close working relationship between the EIB and Argentina.
“Over the last 20 years the European Investment Bank has supported crucial projects across Latin America and our engagement in the region. As the Bank of the European Union and as part of Team Europe the EIB is committed to supporting sustainable investment in Latin America. This week’s visit will ensure stronger engagement in region in the years ahead.” confirmed Ricardo Mourinho Félix, European Investment Bank Vice President, ahead of the visit.
First visit of the Vice President to Latin America
During the three day visit in Argentina, the European Investment Bank is expected to announce new support for investment in flood projection in Buenos Aires Province and support for purchasing vaccines in the fight against the pandemic.
New head of the Latin American representation office
The EIB has also announced the nomination of a new head of regional office in Latin America. The new head of office, Alexandre Staff Varela will act as the Bank’s main point of contact in the region, from the EIB’s office in Bogotá, Colombia.
The EIB in Argentina
The EIB has significant presence in Argentina through the financing of important public investment projects. Argentina is the second largest recipient of EIB financing in Latin America with almost €1 billion of funds.
In recent years, the EIB has financed strategic investments in Argentina such as the rehabilitation of the Buenos Aires Metro, water and sanitation projects, and the integrated waste management programme in Jujuy, the latter complemented by an EU grant.
The EIB’s development branch and Latin America
In September 2021, the EIB Board of Directors approved the bank’s proposal to set up a development branch to increase the impact of its activities outside the European Union. It underpins the EIB’s response to the call for action expressed in the “Council conclusions on the enhanced European financial architecture for development (2021)” adopted on 14 June 2021. Through its development branch, the EIB will reorganise its activities outside the European Union and increase its presence on the ground, developing more targeted strategies and services in close cooperation with partners.
Since the EIB began operating in Latin America in 1993, it has provided total financing of EUR 11.4 billion to support 150 projects in 15 countries in the region.