Glossary:European Investment Bank (EIB)
The European Investment Bank, abbreviated as EIB, is the long-term lending arm of the European Union (EU), created in 1958 by the Treaty of Rome. Its task is to foster the integration, balanced development and economic and social cohesion of the EU Member States. The EIB operates on a non profit-maximising basis.
The EIB raises substantial volumes of funds on the capital markets which it lends on favourable terms to projects furthering EU policy objectives. The EIB continuously adapts its activity to developments in EU policies.
Besides supporting projects in the Member States, its main lending priorities include financing investments in future Member States of the EU and EU partner countries.
The Bank's consistent AAA rating is underpinned by firm shareholder support, a strong capital base, exceptional asset quality, conservative risk management and a sound funding strategy.
For the fiscal year 2011, EIB lent 61 billion euro in various loan products.