Can the EIB become the “EU Development Bank”?
Report | 9 November 2020
The European Investment Bank’s (EIB) role in supporting EU development policies is being increasingly discussed. Now that the EIB is planning to step up its development role and create a dedicated branch for this purpose, the European Sustainable Development Bank, an important question emerges: is the EIB fit for the task of becoming the “EU Development Bank”?
This report analyses the EIB’s track record in the development field and offers a series of detailed recommendations for fundamental reforms at the EIB, so that the Bank can better support partner countries’ development priorities and ultimately become a credible candidate for the “EU Development Bank” seat.
The report is illustrated by numerous case studies of EIB-financed projects all around the world, from Kenya to Nepal and Bosnia and Herzegovina to Georgia. In solidarity with local communities, we have documented the too often harmful impacts of projects financed under the Bank’s development mandate. We hope that this report can be a wake-up call that will prompt the EIB to clean up its act.
Project: Corridor Vc motorway, Bosnia and Herzegovina | Mombasa-Mariakani road project, Kenya | Nenskra hydropower plant, Georgia | Olkaria geothermal development, Kenya
Tags: EIB | EU | EU funds | public funding
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