European Investment Bank (1958, Brussels; >2000 staff; €243bn; eib.org)
The European Union’s bank is the largest multilateral borrower and lender by volume, supporting projects that make a significant contribution to growth and employment in Europe and beyond. As part of its counter-cyclical approach, activities focus on four priority areas: 1) Innovation and skills: investment that is geared towards innovation, skills and greater competitiveness, e.g., a loan to Türk Traktör, one of Turkey’s main tractor manufacturers, will finance the development and implementation of technologies designed to enhance the fuel efficiency; 2) Access to finance for smaller businesses: EUR 29.2 billion to SMEs and midcaps globally, 85% in Europe; 3) Environment and climate: one of the largest providers of climate finance worldwide with EUR 20.6 billion going to support sustainability projects in over 160 countries; 4) Infrastructure: invested EUR 18.9 billion in energy efficiency, transport, water and sustainable urban infrastructure in 2015, e.g., a long-awaited power line across the Pyrenees that will allow export of excess Spanish renewable energy and ease one of the worst network energy bottlenecks in Europe. 300 engineers and economists screen every project, before, during and after loans are extended. Also deeply engaged with the European Fund for Strategic Investments to help overcome the current investment gap in the EU by mobilizing private financing for strategic investments, e.g., installing tens of millions of smart meters across Europe. EIB has more than 2,000 staff; 243b euro in capital.