We live in a more complex world compared to just 20 years ago, where challenges such as climate change, access to energy and prosperity are ever more interlinked. These challenges are global and thus require a concerted action that can be achieved through international cooperation and by pooling together resources.
This is why the European Investment Bank (EIB) has founded EIB Global in 2022: a dedicated branch that brings together the resources of the EU, its members, and financial institutions to expand operations outside the European Union. Acting to mobilize more resources is a priority as developing countries need more than €2 trillion in extra annual investment to achieve the goals of the UN 2030 Agenda.
EIB Global works in strong cooperation with the EU institutions and it will play a pivotal role in supporting goals of the European Commission’s €300 billion Global Gateway programme (announced in late 2021), which aims at promoting projects to improve global and regional connectivity in several strategic sectors with a sustainable and transparent approach.
Global commitment and local presence to achieve the sustainable development goals
EIB Global supports the achievement of the Paris Agreement, in line with the EIB’s Climate Bank Roadmap 2021-2025 and with the EIB’s Social and Environmental Policy. The action of EIB Global will therefore reflect the EIB Group’s sustainability goals and policies. For instance, the EIB Group will gradually increase the share of its annual financing dedicated to climate action and environmental sustainability to 50% by 2025 and beyond. Moreover, the EIB Group is committed to embrace a holistic approach towards sustainability that recognizes the same importance and dignity to the environmental and social dimensions towards the promotion of a just and fair transition to a sustainable future.
These targets will require a new approach to deliver impact. Hence, the EIB Global goes local, bringing solutions and dialogue with companies and institutions closer to local communities. EIB Global will leverage a network of 30 offices located beyond the European Union to further expand its presence with the creation of new regional hubs to facilitate the disbursement of financing. In 2021, EIB launched the first regional hub in Nairobi, Kenya, to streamline the implementation of local projects.
Trieste: a suitable location to host the EIB global branch in order to untap regional synergies and know-how
The Sustainable Financing Association acknowledges the important contribution that EIB Globalwill make in promoting sustainable development with an innovative approach that bring solutions closer to the people. In line with our vision, the Association supports the candidacy of the city of Trieste to host the EIB Global branch. The city of Trieste is the perfect venue given its strategic position in the Mediterranean region and its already consolidated network of international partnerships for economic development and scientific cooperation
