Signature of an EIB/EC Memorandum of Understanding on coordination of external lending policy
End production: 26/05/2008 First transmission: 26/05/2008
The European Investment Bank (EIB) and the European Commission signed on 26 May 2008 a Memorandum of Understanding aimed at furthering coordination of European Union external lending policies. The objective of the Memorandum of Understanding is to strengthen the consistency of EIB lending with the external policy objectives of the EU by reinforcing dialogue and planning between the two institutions, so as to optimise the use of grant and loan resources. Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs, said that this increased collaboration with the EIB would improve their ability to finance projects outside the EU in a range of areas from energy, environment and infrastructure as well as in the private sector to the benefit of the populations concerned. He added that it would facilitate coordination, coherence and synergies between EU assistance instruments and EIB financing, thus increasing the efficiency and visibility of EU action towards third countries. Philippe Maystadt, President of the European Investment Bank, also said that this was an important milestone in the relationship between the EIB and the European Commission. He said that they already cooperated closely on policy matters within the Union, but that this agreement cemented the role of the EIB as the privileged financial partner for EU external relations.
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||Exterior view of the Berlaymont Commission building
||Arrival of Philippe Maystadt, President of the European Investment Bank, and handshake with José Manuel Barroso, President of the EC, and with Joaquín Almunia, Member of the EC in charge of Economic and Monetary Affairs (3 shots)
||General view of the meeting (4 shots)
||Philippe Maystadt and Joaquín Almunia coming out of the meeting room
||Signature of a Memorandum of Understanding by Philippe Maystadt and Joaquín Almunia, to improve coordination of EU external lending policies and actions (7 shots)