EIB: bank president calls for general mobilisation of funds to tackle world challenges
April 13, 2016
“The world’s challenges are beyond the capacity of any single institution”, European Investment Bank President (EIB) Werner Hoyer said in a statement. Among these global challenges, Hoyer listed climate action, sustainable growth and the current refugee crisis. Speaking on Monday 12 April 2016, ahead of the World Bank Group and IMF meetings in Washington, Hoyer said: “The EIB, as the EU’s bank, has a vital role to play in partnership with others in tackling the global challenges facing us today”. His message is that “the EIB seeks partners and is a partner. Alongside other Multilateral Development Banks and National Promotional Banks, we can achieve even more to improve the lives of people around the world.”
Hoyer added: “We can catalyse and attract private funds to projects which are in the public – and the global interest. We can help to convert the crucial agreements of 2015 on Climate Change and the Sustainable Development Goals into reality, both in Europe and outside; we can support the international community’s response to the current refugee crisis and the challenge of migration; furthermore we are committed to sharing our experience and expertise to help bridge the global infrastructure gap – as we are doing on an unprecedented scale for example in Europe (…) There is an ongoing shift in the financing of development policies from grants and budget funds to financial instruments, which the EIB strongly supports. This is aimed at maximising impact through the most efficient possible use of public funds as well as the increased mobilisation of public and private investment in order to accelerate the implementation of our Sustainable Development Goals”.