Commission tables proposal for EIB's external mandate until 2013

On 21 April 2010, the European Commission adopted its proposal for the external mandate of the European Investment Bank (EIB) for the remainder of the financial perspective. The proposal is based on a mid-term review, which includes a report by the "Steering Committee of Wise Persons" (SCWP), chaired by the former Managing Director of the IMF Michel Camdessus, and an external evaluation by COWI.

The proposal would activate a €2 billion optional mandate for the fight against climate change. In addition, the Commission proposes replacing the current system of regional objectives for operations under the EU guarantee with horizontal objectives and placing more emphasis on the development aspects of EIB financing.

It would also activate the EIB external mandate for Iceland, Belarus, Libya, Iraq and Cambodia.

The EIB is the financing arm of the European Union. In 2009, its lending volume reached €79 billion, of which around €9 billion concerned projects outside the EU (€6 billion under the external mandate).

The proposed decision will ensure the continuation of the EU guarantee for EIB external financing for the remainder of the current financial perspectives - 2007-2013. The proposal will now be discussed by the European Council and Parliament.

Documents

• Press release IP/10/450. Commission tables proposal for the EIB external mandate until 2013  
• COM(2010)174 final - Proposal for a Decision of the European Parliament and of the Council granting an EU guarantee to the European Investment Bank against losses under loans and guarantees for projects outside the European Union(126 kB)  
• COM(2010)173 final - Report from the Commission to the European Parliament and the Council on the mid-term review of the externalmandate of the EIB(55 kB)  
• SEC(2010)443 final - Commission staff working document accompanying the Proposal for a Decision of the European Parliament and of the Council granting an EU guarantee to the European Investment Bank against losses under loans and guarantees for projects outside the EU(93 kB)  
• SEC(2010)442 final - Commission staff working document accompanying the report from the Commission to the European Parliament and the Council on the mid-term review of the external mandate of the EIB(270 kB)