European Investment Bank (EIB) www.eib.org is a non-profitable financial institution of the European Union (EU), seated in Luxembourg, established in 1958 under the Roman Agreement. Its main task is to contribute to integration, balanced development and social and economic cohesion of the EU Member States. EIB mission is aimed at promoting political and development goals of EU by providing long-term financing of specific capital investment projects. EIB, as an EU institution, supports its policies by financing stable public and private investments.
EIB members are the 28 EU Member States, while its managing bodies are the Board of Governors, the Board of Directors, the Management Board and the Audit Board.
Starting 1963, EIB, in line with the European policy on development cooperation and assistance, also approves loans to non-EU countries. In addition, the European Community grants guarantee to EIB against suffered losses that would arise from the loans or the guarantees granted for projects outside the European Community, to the end of encouraging EIB activities outside EU borders, particularly in the countries that want to become full-fledged members of the European Union, without thereby deteriorating EIB credit rating.
EIB has, for the first time, started granting loans to the Republic of North Macedonia as a sovereign borrower with the signing of Protocol 3 on financial cooperation to the Cooperation Agreement between the Republic of Macedonia and the European Community in 1997.
Cooperation was strengthened in April 2008 by signing the Framework Agreement with EIB for governing the activities of EIB in the Republic of North Macedonia, opening new possibilities for realization of projects in areas of key importance for the Republic of North Macedonia.
EIB activities focus mainly on four priority areas:
- innovations and skills;
- access to finance for small enterprises;
- environment and climate change.