European finance ministers today highlighted the EIB’s crucial role strengthening innovation, cohesion, convergence and climate action. At the Annual Meeting of the EIB Board of Governors in Luxembourg, ministers welcomed the EU Bank’s crucial countercyclical activities following the economic crisis, delivering increased support under the Investment Plan for Europe and for public and private investment around the world.

European finance ministers today highlighted the European Investment Bank’s crucial role strengthening innovation, cohesion, convergence and climate action. At the Annual Meeting of the EIB Board of Governors in Luxembourg, ministers welcomed the EU Bank’s crucial countercyclical activities following the economic crisis, delivering increased support under the Investment Plan for Europe and for public and private investment around the world.

“The EIB is  Europe’s most efficient investment instrument. Over the last 60 years the EU Bank has supported economic growth and job creation, boosted competitiveness and innovation, and strengthened market integration and cohesion. In recent years, we have refocused our business model and last year 57% of all lending was with new clients. On this occasion I wish to express my sincere gratitude to Finance Minister Centeno for chairing the EIB Board of Governors over the last twelve months.” said Werner Hoyer, President of the European Investment Bank.

The European Investment Bank Board of Governors comprises the 28 European Union finance ministers. Today’s meeting was chaired by Portuguese Finance Minister Mário Centeno.

The Board of Governors meeting discussed strategic developments over the past year and strengthened activities to reflect local investment priorities. Ahead of the meeting ministers also approved the EIB’s audited accounts that include lending totalling EUR 69.9 billion in 2017.

The meeting also approved proposals for new members of the EIB’s Board of Directors, appointments to the EIB’s audit commitee and agreed that for the next 12 months the EIB’s Board of Governors would be chaired by Romanian Minister of Finance, Eugen Teodorovici.