On November 7th 2013 the European Investment Bank (EIB) branch in Brussels hosted a round table on the outcomes assessment framework operations within the EU.
The European investment bank, conceived in 1958 with the Treaty of Rome, is the long-term lending financial institutions in the European Union and the larger multilateral lender and borrower in the world.
As part of its engagement with its stakeholders, the European Investment bank shared the value-added of its operation inside the EU.
As a result of the capital increase, raised by issuing bonds in the international markets, the EIB was needed to report on how the extra lending capacity, primarily through the Growth & Employment Facility. This led to a revision of the Value-Added (VA) assessment of the Bank’s operations in EU and Pre-Accession countries, and the 3 Pillar Assessment was implemented on January 1st 2013.
The European investment bank provides loans to more than 300 projects in the EU annually, thus it has responsibility to demonstrate the positive impact of these projects. The Bank’s activities in the EU support projects according to the following priority areas:
- Small and medium enterprises (SMEs)
- Regional development, addressing social and economic imbalances
- Environmental sustainability
- Innovation and research
- Trans-European networks, linking Europe’s infrastructure
- Competitive and secure-energy supply
- Energy and climate change
The 3 pillars are the following ones:
- Pillar One-quality and contribution to sustainable growth and employment
- Pillar Two– consistency with and contribution to EU/EIB policy
- Pillar Three– Contribution of the EIB to the project
Each one of the pillars has indicators through which the individual projects are assessed:
For Pillar One, the indicators are: Growth, Promoter Capability , Environmental and social sustainability, employment, technology and other benefits. For Pillar Two, the indicators are: EIB eligibility, Higher priority areas and exceptional contribution For Pillar Three, the indicators are: Financial contribution, financial facilitation and technical contribution.
The aim of the EIB is to monitor the funded projects a and outcomes, and make sure that the impact of the projects represents an environmental, socio and economic value-added contribution to society.
For more details and information on the European Investment bank and how it works, click here
To view the latest publication: the Economic Appraisal of Investment projects at EIB , click here