The European Investment Bank (EIB) not only is the bank of the European Union (EU), it also is the world's largest multilateral lender. Hitherto rarely at the centre of public attention, the ongoing negotiations on the next EU budget round, the Multiannual Financial Framework (2021-2027) (MFF),...

This evaluation commissioned by the European Commission aims at providing an overall independent assessment of its aid delivery through Development Banks and the EIB during the period 1999-2006. It concerns financial flows or “channelling” from the Commission to the aforementioned...

Should the European Union grant state aid through an institution like the European Investment bank? This paper evaluates the efficiency of different measures for grant-ing state aid. We use a theoretical model with firms that differ in their creditworthiness and compare different types of...

The paper considers the experience of the European Investment Bank and addresses policy lessons for developing countries as they seek finance for development. The paper argues that the key lesson for developing countries is that the traditional role of a development bank in closing market gaps...