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Add to Preferred SourcesEuropean Investment Bank President Werner Hoyer welcomed the publication of the report by the Wise Persons Group on the European financial architecture for development and confirmed how proposals for a European Bank for Sustainable Development would address systematic investment gaps identified by the report.
“The European Investment Bank welcomes the report by the Wise Persons Group. It confirms the important role the EIB Group is playing in delivering EU policies outside the Union. The report highlights the fact that establishing a development subsidiary at the EIB is politically and financially the most feasible option to address systemic gaps in the European development finance architecture.” said Werner Hoyer, President of the European Investment Bank.
The new report recommends three options to streamline European Union development finance activity outside Europe and strengthen support for achieving the Sustainable Development Goals.
In recent months the EIB has developed detailed proposals for a dedicated development finance subsidiary, the European Bank for Sustainable Development. This is intended to strengthen the development focus of the EIB, use existing resources and increase engagement with EU development policy stakeholders.
Read and download the report: Europe in the World: The future of the European financial architecture for development.
Original source: EIB
Published on 08 October 2019