This page is part of the E3G Public Bank Climate Tracker Matrix, our tool to help you assess the Paris alignment of public banks, MDBs and DFIs.
| Paris alignment | Reasoning |
|---|---|
| Some progress | The EIB does not issue specific public strategies to guide its country level work. Operations within the EU are aligned with the EU’s European Green Deal and its associated policy packages, and therefore the EU Nationally Determined Contribution (NDC). The national plans submitted by EU member states in this context serve as the foundation for country level activities. EIB Global, established in 2022, will also need to contend with the interaction between its country level work outside the EU with EU-wide regional cooperation strategies, the Paris Agreement’s long-term goals and partner countries’ NDCs and National Adaptation Plans (NAPs). |
Explanation
Country level strategies and approach
The EIB does not develop specific country level strategies to guide its operations. Nonetheless, as the lending arm of the European Union, the EIB’s strategy for operations within the EU (which accounted for over 80% of commitments in 2022) is aligned within the EU’s European Green Deal and its associated policies, including the Fit for 55 and RePowerEU policy packages, as outlined in the Climate Bank Roadmap. According to the European Green Deal, EU member states are required to submit a number of national strategies and plans, including National Energy and Climate Plans, National Adaptation Strategies and Plans, and Recovery and Resilience Plans. In this context, the EIB commits to strengthening dialogues with EU member states to help deliver on long-term investment needs, using the above-mentioned plans “as a basis for reviewing how the EIB Group can fine-tune its support”.
The 2023 EIB Global Strategic Roadmap commits EIB Global to prioritising the EU’s goal of accelerating the transition to low-carbon, climate-resilient, and environmentally sustainable development outside the EU. EIB Global will be guided by relevant regional policies, such as the Green Agenda for the Western Balkans and the climate action components of the New Agenda for the Mediterranean, as well as partner countries’ Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs). While the establishment of a strategic vision for EIB Global is welcome, relying on regional approaches or NDCs may not provide sufficient tailored strategic action at the country level.
The Climate Bank Roadmap outlines the EIB’s commitment to supporting countries in adopting ambitious NDCs, offering advisory services in collaboration with the European Commission.According to the mid-term review of the energy lending policy, the EIB is engaging with South Africa, Vietnam and Indonesia to reduce coal use as part of the G7-led JETPs. This has led to project agreements including the EUR 350 million JET-P Transnet Decarbonisation project and EUR 200 million FRB Climate Action Facility project in South Africa, and a further project in the pipeline in Vietnam.[1] The mid-term review further notes that the creation of EIB Global will further accelerate these efforts. To maximise the effectiveness of EIB’s NDC support,[2] the Bank should coordinate closely with other MDBs and other relevant actors, such as the NDC Partnership, to create synergies and avoid duplication of efforts.
The EIB Global Strategic Roadmap states that its implementation will strengthen the EIB’s contribution to the European Financial Architecture for Development (EFAD), including through dedicated strategies. EIB Global also commits to enhancing its country level presence by building on its existing network of external offices. However, it remains unclear whether these developments will result in country level strategies, how NDC ambition is defined, or how such definitions influence the Bank’s investment decisions at the country level.
Recommendations:
- In light of the establishment of EIB Global, the EIB should consider developing tailored strategies for its operations outside the EU. These strategies should, where possible, align with national and regional plans, ensuring they support each country’s vision for decarbonisation and resilience building in line with the Paris Agreement. When necessary, they should also go beyond existing plans to ensure stronger alignment with the temperature goals of the Paris Agreement. EIB should explain through its upcoming Climate Bank Roadmap review how it will work with shareholders to encourage coherence between EU-wide strategies and its efforts to ensure Paris Alignment.
- Given the EIB’s deep integration into the policymaking processes of its European client countries, it is well-positioned to play a pivotal role in shaping and supporting the development and execution of national transition plans, as well as investment and country platforms, both within Europe and internationally.
[1] Information obtained directly from the Bank.
[2] See the “Technical assistance for implementing Paris goals” metric for more information.
Last Update: April 2025