EIB Reports "The Impact", "The Story" Outline Commitment to Global Action

Two new European Investment Bank (EIB) reports highlighted a stronger commitment to global action and increasing cooperation with the public and private sectors.

"EIB Global Report: The Impact" details the results and numbers behind development activities outside the European Union (EU) and discusses many challenges facing the economy and societies worldwide, including climate change, the war in Ukraine, and the COVID-19 pandemic.

Meanwhile, "EIB Global Report: The Story" illustrates the foundations of the EIB’s new development arm and discusses ways to fill investment gaps in areas such as gender equality, innovation, vaccines, and green energy.

The world is beset by crises that are reshaping societies, economies, healthcare systems, transport, and workplaces. Many parts of our lives are changing.

The greatest challenges, such as COVID-19, climate change, poverty, and equality, will require larger investments and more partnerships as this decade progresses. No single institution can meet the world’s needs for innovation and cooperation.

There is a lot of work to be done. Africa needs to increase spending on climate action by several hundred billion a year. The continent is running far behind other parts of the world in COVID-19 vaccinations. With renewable energy in homes and clean drinking water, developing countries are struggling to make big leaps.

Hundreds of millions of people in Asia, Latin America, and Africa have no power in their homes and no easy access to good water. The EIB Group brought green electricity to 2.6 million households outside of the European Union in 2021 and improved water for 4 million.

The group noted that they helped in providing provide nearly 800 million doses of vaccines against the Coronavirus and other diseases. But we need to work together to do much more.

This two-volume package outlines through projects, initiatives, and technical advice how EIB Global is raising its commitments and increasing cooperation with the public and private sectors.

They are bringing the bank closer to local people, companies and institutions that need the most help outside the EU. This ensures that we respond more quickly and fully to local needs—from vaccine production in Senegal to gender equality in Latin America, to medical supplies for farmers in Kenya, digital technology in Serbia and green energy on small islands in Southeast Asia.