On Wednesday, May 20th (a looong time ago), we visited the EIB, the European Investment Bank. This of course means that it’s time for another episode of our popular series “things you always wanted to know about…”!
- When working at the EIB, you should just call it “the Bank”, like the cool kids (such as Olivia) who have been working there for 18 years do.
- Poor EIB is often left out when it comes to listing the EU institutions, and Italy is to blame for this injustice.
- The EIB does not give its money as a present like the Commission does, but always wants the money back. However, they work in a non-profit kind of way there and thanks to their triple-A rating they can give loans at very nice rates.
- The projects that they invest in must have a noble purpose; i.e. they need to contribute to the common good, like helping the poor Africans to build the infrastructure facilities that they do not have. (For those of you who are wondering whether all Africans run after leopards; they don’t. Andrea and I checked.)
- Not all the companies that eventually get the loans are contributing to the common good. What? Booooh!
- If you thought that the ECJ was the superhero of the EU, you might be interested in hearing that the EIB reduces CO2 emissions, tries to protect Venice from rising waters and helps children to get to school without dying in the rivers.
- The EIB is a lot busier than WBG or EBRD. It is the largest lender and borrower in the world.
- The EIB is owned by the Member States, which are all shareholders.
- The EIB should never be confused with the ECB!
- …and most importantly: they take trainees who have already done a traineeship at some other institution! Hallelujah! Apply, folks!