Editing European Investment Bank (section)

== Funding sources ==
[[File:Donors conference European Investment Bank 2019.jpg|thumb|2019 EIB donors conference]]
The European Investment Bank is a not for profit organisation. While it is a [[European Union]] body, none of the European Investment Bank's funds come from the European Union budget, the bank is financially autonomous. It has its own resources and money raised through the international capital markets.<ref>{{Cite journal|title=Facts & Figures|url=https://www.eib.org/en/publications/the-eib-group-facts-and-figures-2019|access-date=2021-04-28|website=European Investment Bank|date=30 January 2020 |language=en |last1=Bank |first1=European Investment }}</ref>

The EIB issues [[Bond (finance)|bonds]] to borrow money on capital markets which it then lends to its clients, which is a common way for governments and corporations to borrow money. Both parties agree on a fixed date when the loan is due to be paid back usually including an interest rate.<ref>{{Cite web|last1=Fern|first1=Jason|last2=o|title=Bond|url=https://www.investopedia.com/terms/b/bond.asp|access-date=2021-04-28|website=Investopedia|language=en}}</ref> The EIB's bonds are purchased by [[Investor#Retail investor|retail investors]] and [[institutional investor]]s around the world.

The EIB focuses on long-term investment and is triple-A rated by [[Moody's Investors Service|Moody's]], [[S&P Global Ratings|Standard and Poor's]], and [[Fitch Ratings|Fitch]].<ref name=":9"/> This allows the Bank to borrow money at lower rates to then lend it at lower rates to projects inside and outside Europe that foster EU policy objectives.<ref name="StackPath">{{Cite web|title=StackPath|url=https://www.instituteforgovernment.org.uk/explainers/european-investment-bank-brexit|access-date=2021-04-28|website=www.instituteforgovernment.org.uk|date=13 December 2017 }}</ref><ref name=":9"/>

In addition to benchmark bonds, public bonds, and private placements that vary in terms of size, currencies, maturities, and structures, the Bank offers [[Climate bond|Green Bonds]] and Sustainability Awareness Bonds.<ref>{{Cite web|title=Borrowing|url=https://www.eib.org/en/about/cr/responsible-borrower/index.htm|access-date=2021-04-28|website=EIB.org|language=en}}</ref><ref>{{Cite book|title=The EIB Group Operating Framework and Operational Plan 2018|url=https://www.eib.org/en/publications/operational-plan-2018|access-date=2021-04-28|website=European Investment Bank|year=2018|doi=10.2867/67744|language=en|author1=European Investment Bank|publisher=Publications Office of the European Union|isbn=978-92-861-3541-5}}</ref>

The European Investment Bank issued the first Green Bond in 2007, called a Climate Awareness Bond. The EIB is the global leader of Green Bonds issuance with over EUR 30.8bn raised in 2020 across 16 currencies.<ref>{{Cite web|title=EIB makes climate finance mainstream as taxonomy unlocks standards|url=https://www.globalcapital.com/article/b1nsjkjmq220gw/eib-makes-climate-finance-mainstream-as-taxonomy-unlocks-standards|access-date=2021-04-28|website=www.globalcapital.com|date=15 October 2020 |language=en}}</ref><ref name=":9"/> With the money raised through Green Bonds, the EIB exclusively supports projects that contribute to climate action in the renewable energy sector (including [[Wind power|wind]], [[Hydroelectricity|hydroelectric]], [[Solar System|solar]] and [[geothermal energy]] production) and the energy efficiency sector (e.g. projects for [[district heating]], co-generation, and building insulation).<ref>{{Cite book|title=Environmental and Social Standards – Overview|url=https://www.eib.org/en/publications/environmental-and-social-standards-overview|access-date=2021-04-28|website=European Investment Bank|year=2014|doi=10.2867/58327|language=en|author1=European Investment Bank|publisher=Publications Office of the European Union|isbn=978-92-861-2046-6}}</ref>

=== Shareholders ===
The European Investment Bank's has capital from its shareholders, the Member States of the European Union. Each Member State is subscribed in capital based on its economic weight (expressed in [[Gross domestic product]]) within the European Union at the time of the country's accession to the European Union.<ref name="EUR-Lex - - EN"/>

Following [[Brexit]] and the withdrawal of the [[United Kingdom]] from the European Union, the European Investment Bank's board of governors decided that the remaining Member States would proportionally increase their capital subscriptions to maintain the same level of overall subscribed capital (EUR 243.3 billion).<ref>{{Cite web|title=EIB President regrets Brexit and welcomes EU 27 united support for EIB Group|url=https://www.eib.org/en/press/news/eib-president-regrets-brexit-welcomes-eu27-united-support-for-eib-group|access-date=2021-04-28|website=European Investment Bank|language=en}}</ref> As of March 2020, the subscribed capital of the EIB has increased by an additional EUR 5.5 billion, following the decision by two Member States to increase their capital subscriptions ([[Poland]] and [[Romania]]). The EIB's total subscribed capital now amounts to EUR 248.8 billion. The departure of the UK from the EU did not impact the EIB Group's AAA credit rating.<ref>{{Cite web|date=2020-01-31|title=EU member states avert €100bn Brexit 'disaster' for European Investment Bank|url=https://www.independent.co.uk/news/business/news/brexit-european-investment-bank-disaster-hoyer-a9310936.html|access-date=2021-04-28|website=The Independent|language=en}}</ref>

{| class="wikitable sortable" style="text-align:right"
|+ Breakdown of the EIB's capital as of 1 March 2020<ref>{{Cite web|url=https://www.eib.org/en/about/governance-and-structure/shareholders/index.htm|title = Shareholders}}</ref>
! Country !! Paid-in capital !! Uncalled capital !! Total subscribed capital
|-
| style="text-align:left" | {{flag|Germany}} || €{{val|4167287407}} || €{{val|42555081742}} || €{{val|46722369149}}
|-
| style="text-align:left" | {{flag|France}} || €{{val|4167287407}} || €{{val|42555081742}} || €{{val|46722369149}}
|-
| style="text-align:left" | {{flag|Italy}} || €{{val|4167287407}} || €{{val|42555081742}} || €{{val|46722369149}}
|-
| style="text-align:left" | {{flag|Spain}} || €{{val|2500372476}} || €{{val|25533049371}} || €{{val|28033421847}}
|-
| style="text-align:left" | {{flag|Netherlands}} || €{{val|1155143086}} || €{{val|11795972691}} || €{{val|12951115777}}
|-
| style="text-align:left" | {{flag|Belgium}} || €{{val|1155143086}} || €{{val|11795972691}} || €{{val|12951115777}}
|-
| style="text-align:left" | {{flag|Poland}} || €{{val|1013823198}} || €{{val|10352856629}} || €{{val|11366679827}}
|-
| style="text-align:left" | {{flag|Sweden}} || €{{val|766322950}} || €{{val|7825458763}} || €{{val|8591781713}}
|-
| style="text-align:left" | {{flag|Denmark}} || €{{val|584882101}} || €{{val|5972639556}} || €{{val|6557521657}}
|-
| style="text-align:left" | {{flag|Austria}} || €{{val|573418425}} || €{{val|5855575961}} || €{{val|6428994386}}
|-
| style="text-align:left" | {{flag|Finland}} || €{{val|329450757}} || €{{val|3364251741}} || €{{val|3693702498}}
|-
| style="text-align:left" | {{flag|Greece}} || €{{val|313330025}} || €{{val|3199631688}} || €{{val|3512961713}}
|-
| style="text-align:left" | {{flag|Portugal}} || €{{val|201923382}} || €{{val|2061980655}} || €{{val|2263904037}}
|-
| style="text-align:left" | {{flag|Czech Republic}} || €{{val|196841038}} || €{{val|2010081290}} || €{{val|2206922328}}
|-
| style="text-align:left" | {{flag|Hungary}} || €{{val|186220601}} || €{{val|1901628594}} || €{{val|2087849195}}
|-
| style="text-align:left" | {{flag|Ireland}} || €{{val|146220406}} || €{{val|1493158667}} || €{{val|1639379073}}
|-
| style="text-align:left" | {{flag|Romania}} || €{{val|146220406}} || €{{val|1493158667}} || €{{val|1639379073}}
|-
| style="text-align:left" | {{flag|Croatia}} || €{{val|94750368}} || €{{val|967562174}} || €{{val|1062312542}}
|-
| style="text-align:left" | {{flag|Slovakia}} || €{{val|67004670}} || €{{val|684231479}} || €{{val|751236149}}
|-
| style="text-align:left" | {{flag|Slovenia}} || €{{val|62207800}} || €{{val|635247290}} || €{{val|697455090}}
|-
| style="text-align:left" | {{flag|Bulgaria}} || €{{val|45491879}} || €{{val|464549338}} || €{{val|510041217}}
|-
| style="text-align:left" | {{flag|Lithuania}} || €{{val|39033623}} || €{{val|398599585}} || €{{val|437633208}}
|-
| style="text-align:left" | {{flag|Luxembourg}} || €{{val|29244304}} || €{{val|298634014}} || €{{val|327878318}}
|-
| style="text-align:left" | {{flag|Cyprus}} || €{{val|28676120}} || €{{val|292831891}} || €{{val|321508011}}
|-
| style="text-align:left" | {{flag|Latvia}} || €{{val|23821199}} || €{{val|243254895}} || €{{val|267076094}}
|-
| style="text-align:left" | {{flag|Estonia}} || €{{val|18395807}} || €{{val|187852433}} || €{{val|206248240}}
|-
| style="text-align:left" | {{flag|Malta}} || €{{val|10915533}} || €{{val|111466131}} || €{{val|122381664}}
|- class="sortbottom"
! 27 total !! €{{val|22190715461}} !! €{{val|226604891420}} !! €{{val|248795606881}}
|}