European Investment Bank (EIB) | Lending Institution of European Union
The European Investment Bank (EIB) is a non-profit long-term lending institution of European Union (EU). It is established under treaty of Rome in 1958.
It provides three types services: Lending (about 90% of its financial commitment); Blending (allowing clients to combine EIB financing with additional investment); Advising and technical assistance (maximising value of money)
Moto of European Investment Bank (EIB)
1. Boost Europe's potential in terms of jobs & growth
2. Support action to mitigate climate change
3. Promote EU policies outside the EU
Governing Bodies of European Investment Bank (EIB)
All EU countries are shareholders in the EIB. Decisions are taken by the following bodies:
Board of Governors: It is comprises of ministers (mostly finance ministers) from all EU countries who defines general lending policy.
Board of Directors: It is consists of 28 members who are appointed by the EU countries and one appointed by the European Commission. It approves lending and borrowing operations.
Management Committee and Bank's executive body: It handles day-to-day business.
Audit Committee: It checks that EIB operations are conducted in a proper manner.
Functions of European Investment Bank (EIB)
Being policy-driven bank, it takes decisions of borrowing and lending on the basis of merits of projects and opportunities offered by financial markets. It set its lending priorities inclined towards European Union then after outside the EU.
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