Dear Madam President,

We, the undersigned civil society organisations, once again express our support for EIB Global’s decision to develop and adopt the EIB Global Strategic Roadmap, which outlines the strategic direction of EIB as a development bank, as requested by the Council of the European Union in June 2021. Since we were not provided the opportunity to provide input on the preparation of the draft document, our purpose in writing this letter is to express our opinion on the approved Roadmap, which we hope will guide the actions of EIB Global going forward.

The key messages outlined in the Roadmap emphasise the EIB as a policy-driven financial institution with a focus on development in alignment with the principles guiding the European Union’s external actions. As long as EIB Global fundamentally reforms its operating model, we believe that it can support the application of these principles and help to achieve the UN Sustainable Development Goals and the objectives of the Paris Agreement. To this end, EIB Global needs to clearly apply the principle of development additionality and contribute to the long-term structural transformation of recipient countries, aligning with their national development goals of promoting socially just and environmentally sustainable societies.

However, we believe the Roadmap lacks the necessary ambition to fully implement the strategy outlined in the document. Therefore, we offer several recommendations aimed at helping the EIB introduce fundamental reforms and support its transformation into the development bank that the EU deserves.

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