Banking
Europe’s top development banks agree to deepen cooperation outside EU
Published by maria gbaf
Posted on October 12, 2021
1 min readLast updated: January 29, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on October 12, 2021
1 min readLast updated: January 29, 2026
The European Investment Bank and EBRD have agreed to strengthen their cooperation outside the EU, addressing concerns about overlapping activities.
LONDON (Reuters) – The EU’s lending arm, the European Investment Bank, and the London-based European Bank for Reconstruction and Development said on Monday they would deepen their cooperation outside of the European Union.
“Our shareholders, the EU member states, have asked us to develop a more effective partnership with the EBRD, and the agreement we have signed today will equip our institutions even better to work together in a complementary way,” EIB President Werner Hoyer said.
European leaders have been wary about an increasing overlap between the two institutions’ work. Two years ago a report https://www.reuters.com/article/us-eu-eib-ebrd-idUSKBN1WJ2J8 by a “wise persons” group led by former senior EU official Thomas Wieser laid out different options to try and avoid such issues.
While the EIB is fully controlled by the EU, the EBRD is also owned by governments from elsewhere in the world including the United States and other G7 nations such as Britain and Japan.
(Reporting by Marc Jones; Editing by Tom Arnold)
The article discusses the agreement between the European Investment Bank and the European Bank for Reconstruction and Development to enhance cooperation outside the EU.
They aim to develop a more effective partnership and address concerns about overlapping activities.
The EIB is controlled by the EU, while the EBRD is owned by global governments, including the US and G7 nations.
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