Tackling Global Challenges of Climate Change, Sustainable Development and Forced Migration: Werner Hoyer calls for partnerships ahead of Spring Meetings in Washington
Speaking ahead of the IMF/World Bank Group meetings in Washington, President of the European Investment Bank (EIB) Werner Hoyer commented, “The EIB, as the EU’s bank, has a vital role to play in partnership with others in tackling the global challenges facing us today. The world’s challenges are beyond the capacity of any single institution. The EIB seeks partners and is a partner. Alongside other Multilateral Development Banks and National Promotional Banks, we can achieve even more to improve the lives of people around the world.”The EIB delegation to the World Bank Group/IMF Spring Meetings in Washington will join government leaders and officials, international financial institutions and civil society groups in addressing the challenges of climate action, sustainable growth and the current refugee crisis.
He added, “Put simply, the EIB is a partner for the public and private sectors in crowding in investment to support economic development. We can catalyse and attract private funds to projects which are in the public – and the global interest. We can help to convert the crucial agreements of 2015 on Climate Change and the Sustainable Development Goals into reality, both in Europe and outside; we can support the international community’s response to the current refugee crisis and the challenge of migration; furthermore we are committed to sharing our experience and expertise to help bridge the global infrastructure gap – as we are doing on an unprecedented scale for example in Europe through the European Fund for Strategic Investments in the context of the Investment Plan for Europe.
There is an ongoing shift in the financing of development policies from grants and budget funds to financial instruments, which the EIB strongly supports. This is aimed at maximising impact through the most efficient possible use of public funds as well as the increased mobilisation of public and private investment in order to accelerate the implementation of our Sustainable Development Goals. The EIB’s expertise and experience means we are well placed in this respect. But no single bank or institution can do this alone. This is why partnerships with MDBs and public and private sector institutions and companies are so crucial.”