Partnerships And Development — Two New European Investment Bank (EIB) Reports Outline A Stronger Commitment To Global Action

EIB Global Report: The Impact (https://bit.ly/3n3Oq89details the results and numbers behind development activities outside the European Union and discusses the many challenges facing the economy and societies worldwide, including climate change, the war in Ukraine and the COVID-19 pandemic; EIB Global Report: The Story (https://bit.ly/3QOXoDUillustrates the foundations of the European Investment Bank’s (www.EIB.org) new development arm and discusses ways to fill investment gaps in areas such as gender equality, innovation, vaccines and green energy.

European Investment Bank (EIB)

The world is beset by crises that are reshaping societies, economies, healthcare systems, transport and workplaces. Many parts of our lives are changing. The greatest challenges, such as COVID-19, climate change, poverty and equality, will require larger investments and more partnerships as this decade progresses. No single institution can meet the world’s needs for innovation and cooperation.

There is a lot of work to be done. Africa needs to increase spending on climate action by several hundred billion a year. The continent is running far behind other parts of the world in COVID-19 vaccinations. In renewable energy in homes and clean drinking water, developing countries are struggling to make big leaps. Hundreds of millions of people in Asia, Latin America and Africa have no power in their homes and no easy access to good water. The EIB Group brought green electricity to 2.6 million households outside of the European Union in 2021 and improved water for 4 million. We helped provide nearly 800 million doses of vaccines against COVID-19 and other diseases. But we need to work together to do much more.

This two-volume package outlines through projects, initiatives and technical advice how EIB Global is raising its commitments and increasing cooperation with the public and private sectors. We are bringing the Bank closer to local people, companies and institutions that need the most help outside the European Union. This ensures that we respond more quickly and fully to local needs—from vaccine production in Senegal to gender equality in Latin America, to medical supplies for farmers in Kenya, digital technology in Serbia and green energy on small islands in Southeast Asia.

Working together more often, taking more risks, and investing in new ways of thinking about our planetary problems can reduce infectious diseases, increase the production of green electricity, bring clean water to rural villages, and inspire ground-breaking ingenuity from the private sector.

“EIB Global aims at more partnerships and increased impact on the ground, which you can read about in our two new development reports,” said Werner Hoyer (https://bit.ly/3ObDi52), President of the European Investment Bank. “EIB Global also represents an explicit signal that the European Union is setting out a clear stance in global development, especially in these turbulent times.”

“Every project carried out by EIB Global answers a vital economic need— and it promotes the values of freedom, human dignity and the rule of law in a world that is less stable than we used to believe,” President Hoyer added. “EIB Global’s structure is designed to foster strong, focused partnerships within and through Team Europe, together with the European Commission and all European Union members.”