Evaluation of the EIB Group Strategy on Gender Equality and Women’s Economic Empowerment

Achieving gender equality is an important EU objective. It is not just a matter of fundamental human rights, but also smart economics. As the European Union’s investment arm, the European Investment Bank (EIB) Group aims to contribute to this goal. Its strategy, grounded in the EU policy framework, recognises that countries that reduce gender-based inequalities tend to be more competitive globally, experiencing faster economic development, higher income per capita, and more efficient businesses.

The EIB Group strategy covers lending, blending and advisory activities in and beyond Europe. The strategy sets the following objectives for the EIB Group:

• Uphold and protect the rights of girls and women by mitigating gender-specific risks in the EIB due diligence framework.
• Achieve a positive impact on gender equality through the Bank’s direct lending operations in Europe and beyond.
• Advance women’s economic empowerment through EIB and EIF intermediated investments by providing increased access to economic opportunities for women.
• Establish internal institutional systems to effectively promote gender equality and establish the EIB Group as a leading financier in support of gender equality.

• The institutional environment has been strengthened: The EIB Group has enhanced its institutional framework for gender equality. This includes integrating gender equality into the Group’s Environmental and Social Standards, adopting a gender tag, and introducing gender-smart criteria for European Investment Fund (EIF) equity investments.
• Increased public presence: The EIB and the EIF have launched several initiatives to raise awareness and boost gender equality and women’s economic empowerment in and beyond the European Union. In addition, the EIB Group cooperates with local and international partners to define and promote market standards, leverage the Group’s contribution to gender equality and showcase the application of these standards.
• Direct lending operations: The EIB has made important progress in promoting gender equality through direct lending operations, particularly beyond the European Union. Since 2021, the number of operations contributing to gender equality has increased significantly.
• Intermediated operations: The EIB Group has helped sharpen the focus of financial intermediaries on gender equality, mainly beyond the European Union. Progress within the European Union has been limited.

Despite these important advancements, challenges remain:

• The strategy’s commitment to systematically assess gender-related risks through its due diligence has not yet been fully delivered.
• The amount of gender expertise mobilised was not commensurate with the strategy’s ambition.
• There are insufficient staff incentives to adopt a gender lens in EIB operations.
• Few EIB projects benefited from gender-focused technical contribution.
• The strategy lacks clarity on its application to the EIF business model.