European Investment Bank
Summary of European Investment Bank
A multilateral development bank established in 1958 by the Treaty of Rome for the purpose of assisting in the balanced growth of the European economic community (read this and related legal terms for further details) (EEC). The bank grants long-term loans from its own resources, and provides financial guarantees to private enterprises, banks, and public institutions for the purposes of expanding the economic base of underdeveloped regions within the EEC, energy independence, and other projects of interest to the community. In addition to providing funding from its own resources, the EIB also acts as agent for loans from the EEC’s New Community Instrument; the NCI was established in 1979 [NCI I] with credit of 500 million European currency units (ECU), to which 1 billion ECU were added [NCI II], followed in 1983 by an additional 1.5 billion ECU [NCI III]. The Council of the European Communities directed that the NCI be used to fund projects including, inter alia:
the rational use of energy, the replacement of oil… and infrastructure projects facilitating such replacement . . . the development of productive activities . . . such as telecommunications, including information technology, and transport, including the transmission of energy … investment projects, mainly those of small and medium-sized undertakings . . . designed in particular to promote the dissemination of innovation and new techniques and the implementation of which contributes directly or indirectly to the creation of jobs.
NCI resources have also been used to support reconstruction projects, such as those following major earthquakes in Italy in 1980.
In the twelve-month period ending December 31, 1983, EIB funding for projects within the EEC totalled 4,255,700,000 ECU, in addition to NCI lending of 1,211,800,000 ECU. The bulk of funds required for project funding is derived in the capital markets. EIB support for a given project is normally limited to fifty percent of the total requirements, and averages terms of ten to fourteen years depending upon the sector of the economy.
(Main Author: William J. Miller)
European Investment Bank (EIB) and the Treaties of the European Union
Description of European Investment Bank (EIB) provided by the European Union Commission: Set up by the Treaty of Rome, the European Investment Bank is the European Union’s financial institution. Its task is to contribute to economic, social and territorial cohesion through the balanced development of the EU territory. The EIB’s shareholders are the 25 Member States of the European Union. The bank is supervised by the Board of Governors, which comprises the twenty-five Finance Ministers. It has legal personality and is financially independent. It provides long-term financing for practical projects, the economic, technical, environmental and financial viability of which is guaranteed. It grants loans essentially from resources borrowed on capital markets, to which is added shareholders’ equity. Between 1994 and 1999 the transport, telecommunications, energy, water, education and training sectors were the main beneficiaries. In March 2000 the Lisbon European Council called for a strengthening of support for small and medium-sized enterprises (SMEs). The EIB Group, which comprises the EIB and the European Investment Fund (EIF), was thus created with a view to boosting European economic competitiveness. Through the Innovation 2000 initiative, it fosters entrepreneurship, innovation and the optimal utilisation of human resources by granting SMEsmedium-term loans and bank guarantees, and by financing venture capital activities. Outside the European Union the EIB supports the pre-accession strategies of the candidate countries and of the Western Balkans. It also manages the financial dimension of the agreements concluded under European development aid and cooperation policies. In this connection, it is active in the Mediterranean countries and in the African, Caribbean and Pacific (ACP) countries.
European Investment Bank
Embracing mainstream international law, this section on european investment bank explores the context, history and effect of the area of the law covered here.
European Investment Bank (EIB) and Europe
There is an entry on european investment bank (eib) in the European legal encyclopedia.
European Investment Bank and the European Union
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See Also
- International Organization
- Foreign Relations
- Intergovernmental Organization
- Regional Organization
- Regional Integration
Resources
See Also
- EIB
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See Also
Further Reading
- Entry “European Investment Bank (EIB)” in the work “A Concise Encyclopedia of the European Union from Aachen to Zollverein”, by Rodney Leach (Profile Books; London)
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Further Reading
- The entry “european investment bank” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press
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See Also
Popular Treaties Topics
- Treaties of the United Nations (UN)
- Types of Treaties
- International Treaties
- Famous Treaties
- Law of Treaties
- Numbered Treaties
European Investment Bank (EIB) and the Treaties of the European Union
Description of European Investment Bank (EIB) provided by the European Union Commission: Set up by the Treaty of Rome, the European Investment Bank is the European Union’s financial institution. Its task is to contribute to economic, social and territorial cohesion through the balanced development of the EU territory. The EIB’s shareholders are the 25 Member States of the European Union. The bank is supervised by the Board of Governors, which comprises the twenty-five Finance Ministers. It has legal personality and is financially independent. It provides long-term financing for practical projects, the economic, technical, environmental and financial viability of which is guaranteed. It grants loans essentially from resources borrowed on capital markets, to which is added shareholders’ equity. Between 1994 and 1999 the transport, telecommunications, energy, water, education and training sectors were the main beneficiaries. In March 2000 the Lisbon European Council called for a strengthening of support for small and medium-sized enterprises (SMEs). The EIB Group, which comprises the EIB and the European Investment Fund (EIF), was thus created with a view to boosting European economic competitiveness. Through the Innovation 2000 initiative, it fosters entrepreneurship, innovation and the optimal utilisation of human resources by granting SMEsmedium-term loans and bank guarantees, and by financing venture capital activities. Outside the European Union the EIB supports the pre-accession strategies of the candidate countries and of the Western Balkans. It also manages the financial dimension of the agreements concluded under European development aid and cooperation policies. In this connection, it is active in the Mediterranean countries and in the African, Caribbean and Pacific (ACP) countries.
Resources
See Also
Popular Treaties Topics
- Treaties of the United Nations (UN)
- Types of Treaties
- International Treaties
- Famous Treaties
- Law of Treaties
- Numbered Treaties
Hierarchical Display of European Investment Bank
European Union > EU institutions and European civil service > EU body
Finance > Financial institutions and credit > Financial institution > Bank > Investment bank
European Union > EU finance > EU financing > EU financial instrument > Community loan > New Community Instrument
European Union > EU finance > EU financing > EU financial instrument > EU loan > EIB loan
European Investment Bank
Concept of European Investment Bank
See the dictionary definition of European Investment Bank.
Characteristics of European Investment Bank
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Resources
Translation of European Investment Bank
- Spanish: Banco Europeo de Inversiones
- French: Banque européenne d’investissement
- German: Europäische Investitionsbank
- Italian: Banca europea per gli investimenti
- Portuguese: Banco Europeu de Investimento
- Polish: Europejski Bank Inwestycyjny
Thesaurus of European Investment Bank
European Union > EU institutions and European civil service > EU body > European Investment Bank
Finance > Financial institutions and credit > Financial institution > Bank > Investment bank > European Investment Bank
European Union > EU finance > EU financing > EU financial instrument > Community loan > New Community Instrument > European Investment Bank
European Union > EU finance > EU financing > EU financial instrument > EU loan > EIB loan > European Investment Bank
See also
- EIB
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