EIB, EBRD expand horizons beyond EU

The European Investment Bank (EIB) and the European Bank for Reconstruction & Development (EBRD) have agreed a deal to explore opportunities beyond the EU.

EIB President Werner Hoyer and EBRD President Odile Renaud-Basso signed a Framework Project Cooperation Agreement in London that aims to improve cooperation on the joint financing of projects and platforms outside the EU.

Under the framework, these projects and platforms will be able to be scaled up over time and will cover all types of debt financing structures in the private or public sector.

“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,” said Hoyer.

“This is a major step towards intensifying the cooperation between the EBRD and the EU,” added Renaud-Basso.