Our Mission is to further the objectives of the European Union by making long-term finance available for sound investment.
The EIB Group promotes Corporate Responsibility through its mission and activities in the service of the European Union, through the way it implements these and through its internal management.
The EIB attaches great importance to engaging with civil society and building cooperative relations with its representatives.
The EIB increased its total lending to as much as EUR 79bn in 2009 as its contribution to the European Recovery Package and in response to strong demand for funding in a current tough economic and financial climate. Investment in the ‘convergence' regions of the EU was one of the key areas targeted by the Recovery Package. Convergence lending totalled EUR 29bn, i.e. 37% of total EIB annual lending. This amount represents a 36% increase compared to convergence lending in 2008, which stood at EUR 21bn.
The lending was well balanced between the EU-15 and EU-12 new Member States, with the latter receiving an aggregate amount of EUR 12.8bn (compared to EUR 8.1bn in 2008), i.e. 44% of total convergence lending. With EUR 4.8bn, Spain is the top beneficiary of convergence lending in absolute terms, followed by Poland with EUR 4.6bn. Estonia leads in per capita terms, followed by Portugal, Lithuania and Slovenia.
The EIB has been more closely involved in co-financing with structural funds; it has supported Member States in their obligation to complement EU grants with their own budgetary resources. Structural Programme Loans (SPL) form a flexible framework approach promoting absorption, better use and leverage of EU Structural Funds. Structural Programme lending in convergence regions amounted to more than EUR 3.1bn in 2009.
In addition, the EIB and the Commission bolster convergence through advisory services, financial engineering and customised financial products, especially in the new Member States. There are four specially conceived Cohesion Policy Joint Initiatives, the so-called "4 Js", originating from partnerships established between the European Commission, the EIB/EIF and other international financial institutions. These are:
In 2009, key projects in the convergence regions included:
Spain (17%): the upgrading (broadband) of the mobile and fixed telephony network in convergence regions attracted EUR 500m. EUR 300m went to hydro-energy production in convergence regions.
Poland (16%): EUR 1bn was provided for the new motorway which will link Swiecko and Nowy Tomysl in Western Poland, EUR 675m went to co-finance public scientific and university based research and EUR 565m went to the 84 km ring-road expressway around Warsaw.
Portugal (12%): EUR 525m was provided for drinking water and sewerage plants in various locations throughout the country. EUR 300m financed new road construction (particularly by-passes and missing links), widening, upgrading and rehabilitation of existing roads, representing a key component of the country's programme to improve the national road transport network.
Germany: EUR 400m went to Volkswagen AG to support the development in the eastern Länder of greener and more fuel efficient drive train components for passenger cars and utility vehicles.
Italy: EUR 500m went to Alenia Aeronautica SpA for the production and development of technologically innovative aeronautical components.
Greece: The EIB promoted the quality of life in Thessaloniki - the second largest city in Greece and a major business centre for the southern Balkans - with a EUR 250m loan for the city's metro system. This concludes the signature of an overall facility of EUR 650m, approved by the Bank in 2005. The overall Thessaloniki Metro project has been the centrepiece of the Greek State's strategy for providing an efficient and effective public transport system in metropolitan Thessaloniki, after the successful completion of the Athens network, also financed by the EIB. As a key European project, it has been supported by the Greek State, the European Union through EU grants and the EIB. This essential public service project represents one of the most important areas of EIB value added as its ability to provide long-term financing perfectly matches the long-term nature and requirements of the infrastructure provided.
Bulgaria: EUR 43.5m was provided for urban road transport in Sofia. This concerned a follow-up operation to improve the quality of life in the Bulgarian capital following a EUR 105m loan for the Sofia metro in 2008. It shows that the EIB, together with the country's authorities, place urban transport high on the agenda. Apart from improving transport possibilities and comfort, while reducing transport time, the project also has related environmental benefits.
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