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 Philippe Maystadt - President of the EIB Credit © European Community, 2007 |
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Background The European Investment Bank, set up by the Treaty of Rome, is the European Union's financing institution. Its role is to contribute to European integration as well as economic and social cohesion within the 27 Member States of the European Union. It provides long-term finance for specific projects, with the aim of increasing coherent development of the European Union. Examples of schemes funded by the EIB include 160 million Euros to pay for small scale energy schemes in the United Kingdom; 200 million Euro to encourage technical innovation in SMEs in Spain; and 210 million Euro for three regions in France to develop TGV (high speed train) services. The EIB is also active outside the European Union where its role is to implement the financial components of agreements concluded under European development aid and cooperation policies. |