Tackling global challenges together
"Migration is one of the biggest challenges of our time, the biggest since World War II. We all have a responsibility to share - the banks, too. We have to come up with concrete results for refugees and for those who are forced to migrate"
Werner Hoyer, President of the EIB
The EIB is working alongside other MDBs to respond to the global forced displacement crisis with long term intervention, helping to address the long term root causes of forced displacement and helping to create economic resilience.
With national discourse becoming increasingly insular, few politicians are brave enough to make the case for multilateralism on the domestic stage. But the need for multilateral action and effective support of development and growth outside Europe has never been greater, argues EIB President Werner Hoyer.
Boost Mena: EIB and World Bank join forces in new boost for entrepreneurship in the Middle East and North Africa
The EIB and the World Bank have signed an agreement to partner on the Boost MENA initiative to support first time entrepreneurs, and in particular young people and women in the Middle East and North Africa. The objective of Boost MENA is to set up a new investment facility for countries in the region that combines financing for innovative start-ups and early-stage growth companies backed by significant technical assistance. It will also contribute to the international response to the refugee crisis. Read the press release here
The EIB is collaborating more closely than ever with other institutions to promote sustainable economic development and has already stepped up its contribution with the implementation of the Economic Resilience Initiative for Europe’s Southern Neighbourhood and the Western Balkans. The first projects under the initiative are ready to be rolled-out and will have a particular focus on young people and women, with increased investment in socially important sectors like water, health and education.
The EIB provides finance and expertise for sound and sustainable investment projects in the region including the EIB backed Silicon Badia which provides loans and advisory services to tech and youth start-ups in Jordan. Watch the video.
EIB President Werner Hoyer and United Nations Development Programme (UNDP) Administrator Helen Clark signed an agreement in Washington DC alongside the 2016 World Bank-IMF Annual Meetings. The accord envisages expanded cooperation in key thematic areas including addressing climate change, responding to challenges such as the ongoing migration and forced displacement crisis, and promoting inclusive markets and entrepreneurship—generating much-needed jobs, particularly for youth.
The necessity for key reforms to Europe’s regulatory environment, particularly in its member states, was underlined by EIB President Werner Hoyer at the Official Monetary and Financial Institutions Forum (OMFIF) think tank’s breakfast discussion called “The changing role of Europe in a world of transition". The discussion took place in Washington DC alongside the 2016 Annual Meetings of the IMF and the World Bank Group.
For EIB investments to impact positively two elements are essential:
- Firstly, financing must be guided by robust policy frameworks that identify and understand the needs and constraints of these challenges, as well as the investment environments in which we operate.
- Secondly, financing must be targeted and collaborative. This involves developing and fostering partnerships
The EIB recognises the importance of working together with other multi-lateral development banks and financial institutions to build prosperity and stability around the world, enabling concrete action on key challenges.
The influx of refugees into the EU over the past year presents one of the greatest challenges ever faced by the EU and the need for collaborative action is clear.
The EIB is already delivering on sustainable and innovative infrastructure. With MDB partners we can achieve even more!