ABSTRACT
The European Investment Bank (EIB) is both an EU institution and a Bank. Established in 1958, under Article 130 of the Rome treaty, it is the EU's public bank for financing capital investment promoting the balanced development of the Union. The Luxembourg-based EIB raises the bulk of its financial resources on capital markets and on-lends the proceeds, on a non-profit basis, for capital investments which meet priority EU objectives. During 2014, it borrowed €62.6 billion and lent €59.4 billion. It is now, by a wide margin, the largest multinational borrower and lender on international financial markets. In this way, the EIB responded to the sovereign debt crisis with a sharp increase in activity, doubling its support for those countries which were hit the hardest. In April 1991 of the European Bank for Reconstruction and Development (EBRD), which has its headquarters in London, is to lend money for this purpose, including to all the successor states of the Soviet Union.
