Meeting as Governors of the European Investment Bank (EIB) Group, EU Finance Ministers approved the new Strategic Roadmap for the Bank’s activities, on Friday 21 June in Luxembourg.
This Roadmap, which was adopted following intensive discussions with the Member States since the informal ministerial meeting in Ghent (see EUROPE 13357/9), includes “eight key priorities”, said Belgian Finance Minister Vincent Van Peteghem. We have also initiated a change in the Bank’s statutes, he added.
“Our shareholders have endorsed a clear plan for the coming years, which builds on the strengths of the EIB Group and paves the way for increasing its efficiency and impact”, EIB President Nadia Calviño said in a press release.
This Roadmap lays out eight major priorities for the EU’s financial arm, including climate action (over 50% of annual funding), digitalisation and innovation, security and defence, agriculture and bioeconomy, social infrastructure and the EU’s external action.
On defence, in line with the discussions initiated in Ghent, the EIB plans to increase investment by updating the definition of dual-use items eligible for financing and establishing a specific credit line (see EUROPE 13407/7, 13390/8).
The EIB’s Board of Governors has also launched the legislative process that will lead to a modification of the Bank’s statute to enable it to use its full potential to support the European economy while preserving its AAA credit rating and capital position. This amendment to the statute will enable the EIB’s Governors to raise the gearing ratio limit from 250% to 290%, which sets a maximum balance sheet value for outstanding loans as a percentage of subscribed capital.
The EIB will have sufficient room for manoeuvre to implement its Strategic Roadmap while maintaining its top-quality capital ratio (CET 1).
See the EIB's 2024-2027 Strategic Roadmap: https://aeur.eu/f/cru (Original version in French by Mathieu Bion)