Folleto Informativo del BEI No.2

This fact sheet, published by Friends of the Earth International, provides an overview of the European Investment Bank (EIB), detailing its governance, financial mechanisms, and its complex relationship with the European Union. The document critiques the EIB for its lack of transparency, insufficient environmental and social safeguards, and its tendency to operate as a private bank despite its public status.

• The EIB was established by the 1958 Treaty of Rome and is owned by the 25 EU Member States, whose contributions to the bank's capital reflect their economic weight within the Union. While all Member States are eligible for loans, the largest contributors—France, Germany, Italy, and the United Kingdom—are the primary recipients of EIB projects.
• The EIB's governance structure is criticized for lacking sufficient oversight. The Board of Directors, which approves loans and guarantees, is a non-permanent body meeting only 10 times a year to review over 300 projects, which the document claims prevents a thorough analysis of potential environmental or social impacts.
• The EIB operates with a 'double personality,' functioning as a public bank that practically acts as a private bank. It maintains independence from the EU's institutional system by funding operations through capital market loans rather than the EU budget, which allows it to finance projects that may not strictly adhere to EU policy.
• The EIB is described as lagging behind other financial institutions, such as the World Bank and the EBRD, regarding environmental responsibility and access to information. The document asserts that the EIB lacks updated environmental standards and often fails to apply current EU environmental regulations.
• The EIB's partnerships with private banks allow it to fund large-scale projects but result in the delegation of social and environmental responsibilities to private entities. The EIB does not have a verification system to track how its funds are used by private banks or SMEs and does not assume responsibility for the consequences of these loans.
• Between 1999 and 2003, the EIB provided 185,909 million euros in total loans. The vast majority went to the European Union and Article 18 countries (156,556 million euros), followed by accession countries (16,209 million euros). Approximately 18% of total loans are directed to countries outside the EU.
• The EIB has faced legal challenges regarding its independence and cooperation with EU oversight bodies. In July 2003, the Court of Justice ruled against the EIB and the European Central Bank (ECB), establishing that the European Anti-Fraud Office (OLAF) has the power of control over them, despite their claims of independence.

APA

Friends of the Earth International (2004). Folleto Informativo del BEI No.2. https://www.foei.org/wp-content/uploads/2020/12/EIBFactSheet2Spabril.pdf

Chicago

Friends of the Earth International. Folleto Informativo del BEI No.2. 2004. https://www.foei.org/wp-content/uploads/2020/12/EIBFactSheet2Spabril.pdf.

Wikipedia

{{cite report |author=Friends of the Earth International |title=Folleto Informativo del BEI No.2 |date=September 2004 |url=https://www.foei.org/wp-content/uploads/2020/12/EIBFactSheet2Spabril.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{friendsoftheearthinternational2004folleto, author = {{Friends of the Earth International}}, title = {{Folleto Informativo del BEI No.2}}, institution = {Friends of the Earth International}, year = {2004}, month = sep, url = {https://www.foei.org/wp-content/uploads/2020/12/EIBFactSheet2Spabril.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }