European Investment Bank Group Activity Report 2022

Our flagship report shows how the European Investment Bank stepped up to the challenges of 2022. From our ongoing work rebuilding Ukraine's damaged towns and cities and our support for refugees, to our unwavering commitment to the global threat of climate change. The report illustrates how our backing for energy efficiency and renewable power is part of the solution to the European Union's energy security needs and its climate goals. It also shows how our support for innovation and breakthrough technologies brings tangible benefits to Europe's economic competitiveness, to its climate goals, and its strategic autonomy. The report also showcases the contribution of EIB Global, our new international development branch, to greater wellbeing around the world.

Our flagship report shows how the European Investment Bank stepped up to the challenges of 2022. From our ongoing work rebuilding Ukraine's damaged towns and cities and our support for refugees, to our unwavering commitment to the global threat of climate change. The report illustrates how our backing for energy efficiency and renewable power is part of the solution to the European Union's energy security needs and its climate goals. It also shows how our support for innovation and breakthrough technologies brings tangible benefits to Europe's economic competitiveness, to its climate goals, and its strategic autonomy. The report also showcases the contribution of EIB Global, our new international development branch, to greater wellbeing around the world.

Building on decades of experience working in Europe's neighbourhood, in Africa and around the world, under EU mandates and in support of EU policy priorities, EIB Global brings together all the financial, engineering and scientific expertise of the European Investment Bank to maximise impact. The new structure fosters strong, focused partnerships within Team Europe, with multilateral development banks and bilateral development agencies. With a stronger presence on the ground, it increases our cooperation with partner countries, clients, EU Member States and other development finance institutions. This publication reports on the first year of EIB Global. The first section reviews the development context, looking at global macroeconomic development and the different regions where EIB Global operates: EU neighbourhood countries sub-Saharan Africa the Western Balkans and Türkiye Asia and the Pacific, and Latin America and the Caribbean The report then turns to the overarching priorities of EIB Global and the European Fund for Sustainable Development Plus, examining investment needs and describing the response by EIB Global: Climate change Jobs and inclusive growth The Global Gateway The final part brings together all the information on the results and impact of EIB Global operations and the financial and non-financial contribution we make. It covers: How we measure results and impact Expected results of new projects EIB Global's contribution to new projects Evidence on the EIB's crowding-in effect Carbon footprint exercise Macroeconomic impact modelling Results of completed projects Lending volumes List of operations signed in 2022 A companion volume to this report, EIB Global Report: The Story, delves deeper into the rationale for, and experience gained from, individual EIB Global projects.

This report analyses the EIB Group's activity in cohesion regions in 2022. This year's edition focuses on the Group's contribution towards innovation for an inclusive, green and digital transition in line with the Innovation, Digital & Human Capital (IDHC) Orientation 2021-2027. The report starts with a review of recent economic trends in cohesion regions and their investments in innovation, followed by a presentation of the EIB Group's activities in these regions in 2022. The Group's support for economic, social and territorial cohesion is presented in relation to policy objectives, activity sectors, countries, contribution to the UN's Sustainable Development Goals (SDGs) and sector-specific project results. A number of case studies are used to illustrate the Group's activities and impact. The wider macroeconomic impact of the Group in cohesion regions is then discussed through the lens of a recent academic study. Finally, the role of digitalisation and innovation in cohesion regions is presented along with the range of tools deployed by the Group to support these policy objectives in cohesion regions.

The European Investment Bank plants the seeds for many future success stories. Now another seed has been planted: EIB Global, the EIB's development arm, which began operating in 2022. This report tells the stories of projects that make a difference on the ground, with sections on Ukraine, sustainability, climate and energy. The challenges we face know no borders. EIB Global represents our commitment to sustainable and inclusive societies everywhere.

The European Investment Bank (EIB) has a long track record as a provider of development and climate finance, working with EU institutions, Member States and partner countries in the EU neighbourhood, sub-Saharan Africa and around the world to foster sustainable development and bring real benefits to people's lives. The challenges faced by our partners around the world are many: economies struggle to provide adequate jobs and basic infrastructure, while dealing with the growing needs for climate action and protection of the environment. These challenges have been aggravated by the coronavirus pandemic and the ramifications of the conflict in Ukraine. As of the start of 2022, the EIB's development finance role is being taken forward and intensified through EIB Global. The new structure builds on the strength and experience that the EIB has gained working outside Europe to mobilise more development and climate finance, and increase impact. The purpose of this report is twofold. First, it provides an overview of the Bank's activities outside the European Union in 2021, with a focus on the expected results, complemented by reporting on the results already achieved by past operations. Second, it elaborates on the context of the Bank's engagement in countries outside Europe, examining different development challenges and how they confront different regions, drawing on our own development research.

The European economy is under pressure. Growth is slowing and competitive challenges are rising, all while EU firms navigate the demands of the green transition. Coordinated support from national governments and EU institutions proved critical after the COVID-19 pandemic, helping Europe to bolster its resilience to future shocks and spurring the investment needed to transform and modernise the economy. As a result, progress was made in digitalisation, energy efficiency, decarbonisation and reinforcing supply chains. The pace of change needs to accelerate, however, even as investment becomes harder to sustain. To remain competitive, the European Union and its members need to improve productivity, encourage innovation, address skill gaps, develop new technologies and supporting young, dynamic firms. The report, which is based on the EIB Group's annual Investment Survey, provides insights on how EU firms are dealing with these pressures, and whether they are taking the necessary steps to transform their businesses. These key findings, provide a short accessible summary of the main report's messages.