Photo by Didier Weemaels via Unsplash

Report launch on the European Investment Bank

Author
Leo Hoffmann-Axthelm
Date
1 November, 2016
Type
Event
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The European Investment Bank (EIB) emerged is a major actor in the EU’s response to the economic crisis. Both the EIB and the European Fund for Strategic Investments (EFSI) have a huge responsibility in kick-starting investment across Europe, which remains below pre-crisis levels. But how open is the EU’s bank about its activities, and who is it accountable to? How does the bank, which invests heavily in the EU’s poorer regions protect itself against corruption?

Transparency International EU will present the main findings of this report, followed by a panel discussion of the main recommendations addressed to the EIB. Civil society organisations and stakeholders are encouraged to suggest their own recommendations to the EIB at the civil society roundtable, to finish the afternoon.

Science 14 , Rue de la Science 14 B, Brussels
15 November 2016, 13.15 – 16:00
RSVP here by November 14th
A light lunch will be provided at 13:15

13:15 –14:00
LIGHT LUNCH & NETWORKING

14:00 –15:00
INTRODUCTION
Carl Dolan, Director, Transparency International EU

PRESENTATION OF MAIN FINDINGS
Prof. Cornel Ban, lead author, Boston University
Leo Hoffmann-Axthelm, Transparency International EU
Q & A

15:00 –16:00
 PANEL DEBATE: RECOMMENDATIONS TO THE EIB
Moderator:  Leo Hoffmann-Axthelm
Georgi Pirinski, MEP (S&D)
Constanze Kann, Director Institutional Relations and Public Affairs, European Investment Bank
Rosita Hickey, Head of Strategic Inquiries, European Ombudsman
David Rinaldi, Centre for European Policy Studies
Prof. Cornel Ban, Boston University

16:00 – 16:15
COFFEE BREAK

16:15 – 17:00
 INFORMAL WATCHDOG NETWORK MEETING
Open invite for all interested civil society, academia & think tanks

Following the doubling of the Juncker Investment Fund (EFSI), this is an opportunity to take a closer look at the transparency, integrity, and democratic accountability at the EIB, the EU’s bank. With Member States squeezed by fiscal rules and no prospect of increased investment through the EU’s budget, the EIB has taken on a greater role in leveraging the EU funds via financial instruments. This has to come hand-in-hand with greater scrutiny of the lending activities of the EIB.

During the crisis, the EIB saw two capital increases, and the creation of EFSI. One year on, it is time to assess if speed came at the expense of accountability, and how the EIB fares in terms of transparency and safeguarding EU funds against fraud and corruption.

This is the first study launched as part of Transparency International EU’s economic governance project. Further studies are forthcoming, on the European Stability Mechanism (January 2017) and the European Central Bank (February 2017).
Please Register here:
http://bit.ly/2f5XZPZ

Related Projects

Eurozone Economic Governance

How transparent are they institutions which govern the Euro?

Resources

Investing in Integrity? Transparency and democratic accountability of the European Investment Bank

This report looks into the independence, transparency, integrity and accountability of the EIB, looking at both the legal provisions and their practical application. It also makes a number of recommendations to improve the EIB’s governance.

Want to know more? Get in touch

Leo Hoffmann-Axthelm

Research & Advocacy Coordinator – EU Economic Governance
leo.hoffmann-axthelm@transparency.org