European Investment Bank (EIB)
The European Investment Bank provides finance and expertise for investment projects that further EU policy objectives.
The bank was established by the EU member states under the Treaty of Rome, and became operational in 1958.
Roles and responsibilities
The first priority of the EIB is to support projects that foster growth, employment, regional cohesion and environmental sustainability in Europe and beyond.
More than 90% of the bank's activity is focused on Europe.
The EIB also implements financial aspects of the EU's external and development policies.
The bank raises the bulk of its lending resources on the international capital markets through bond issues.
The EIB usually provides financing for one third of a project, though it can contribute as much as 50%.
Such long-term supportive financing is intended to encourage private and public sector investment that might not otherwise be forthcoming.
The bank's activities are overseen by its Board of Governors. The Board is made up of ministers (usually finance ministers) designated by each of the EU member states.