Financial activities of the European Investment Bank – annual report 2024

The Committee on Economic and Monetary Affairs adopted an own-initiative report by Francisco ASSIS (S&D, PT) on the financial activities of the European Investment Bank – annual report 2024.

Closing the investment gap and fostering competitiveness

Members highlighted the strong call for the EIB to play an even greater role in closing Europe’s investment gap, which Mario Draghi estimated at EUR 800 billion, of which EUR 450 billion is needed for the energy transition alone. They called for the EIB Group’s contribution to be further strengthened in the next multiannual financial framework (MFF), particularly through financial instruments and budgetary guarantees that have proven highly effective in advancing key EU policy objectives. Member States are urged to provide sufficient funding for this purpose by assigning mandates to the EIB and through a possible capital increase, thus enabling the EIB to mobilise investments that truly meet pan-European needs and strengthen the EU’s relevance as a global player.

The report also highlighted the fact that the EIB’s rating and financial position also allow it to ensure favourable financing conditions in funding public interest projects compared to private commercial banks. It underlined that the EIB should further leverage its privileged status to take greater risks in funding European public goods and strategic investments. The EIB Group should however ensure a more balanced geographical distribution of investments aiming to maximise its impact across all EU regions to promote cohesive and inclusive growth throughout the EU, with particular attention on under-represented and less developed areas.

Members stressed the importance of reducing the administrative burden and reporting costs as well as simplifying procedures for EIB-financed projects, in particular for SMEs and smaller-scale innovation-driven initiatives. underlines that a more streamlined process could increase the EIB’s impact and responsiveness; welcomes, in this regard, the establishment of one-stop shops to offer coordinated financial support and technical guidance.

Financing peace, security and defence

The report welcomed the EIB’s proactive approach in the area of security and defence and highlighted the fact that investment in this sector doubled in 2024 to EUR 1 billion, with the EIB’s 2025 plan set to double it again to a record EUR 2 billion. Members stressed the need to concentrate strategic investments in projects delivering European added value and in dual-use technologies that contribute to both civilian and defence objectives.

Promoting the digital transformation and new technologies

The EIB is called on to:

- strengthen financing for the EU’s open strategic autonomy in the digital field and to promote research, support the development of European digital infrastructure, foster new and disruptive technologies such as AI and quantum computing, and enable the growth of digital start-ups;

- support the strengthening of cybersecurity capabilities in the EU, in order to make Europe more resilient while enhancing existing cooperation between the Member States and in order to protect critical entities and essential services;

- invest more in the critical raw materials sector to enhance resilience in raw materials with a particular focus on the recycling of secondary raw materials;

- support the technological transformation of European companies, as well as the development of digital skills among employees and entrepreneurs.

EIB neighbourhood and Global Gateway

The report called for an increase in EU budget guarantees to allow the EIB to continue to deliver and strengthen public and private sector operations in Ukraine. Members emphasised that, to decrease dependence on non-EU countries, the deployment of resilient European-controlled infrastructure, among others in the domains of satellite communications, energy and logistics, is essential.

In addition, Members stressed that, as part of the EU’s external action toolbox, the Global Gateway is crucial for Europe’s global position and aims to promote the rules-based multilateral system, sustainable development, democracy, human rights, gender equality and the rule of law. They called for enhanced transparency and disclosure practices in line with other multinational development banks and for effective mechanisms to ensure the participation of, and accountability to, communities affected by EIB-financed projects to ensure that Global Gateway projects are responsive to local needs, are gender-sensitive and deliver meaningful developmental results.

The EIB’s global activities are expected to respond swiftly to evolving realities and urgent needs.

Governance: accountability and transparency

Stressing that the EIB’s growing role should be accompanied by greater democratic accountability and transparency, Members ask the EIB to provide Parliament with a clear, simplified overview of EU budget contributions to its balance sheet, off-balance sheet, and profit and loss account. They highlighted the importance of the EIB ensuring full transparency and traceability of projects funded, including more detailed information, to enable proper oversight by all relevant stakeholders, including civil society organisations, rather than solely by the ministries responsible.

The EIB is invited to boost the participation of European companies in procurement processes launched for projects financed by the EIB.