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Home / DFI Index / DFI Transparency Index 2023 / EIB – non-sovereign
DFI

DFI Transparency Index 2023

EIB – non-sovereign

Score:
35.0
Position:
7 / 21

Overview

The European Investment Bank (EIB) is the European Union’s (EU) bank and is owned by its member states. EIB’s non-sovereign portfolio works with other EU institutions and the private sector to support EU policy and provides lending, blended finance, and technical advice for investment within and outside the EU. EIB was established in 1958.  

Total asset size: $767bn (EIB overall)
Key links
  • EIB webpage
  • EIB project database

Analysis

EIB came seventh in the non-sovereign DFI assessment with 35 out of 100. EIB performed relatively well for the Core Information component owing to the fact that it publishes projects to the IATI Standard. However, overall performance was negatively affected by the poor performance in the Impact Management and Financial Information components. Significantly, EIB did not disclose E&S risk categories which has a further negative effect on their performance in the E&S and Accountability to Communities component as all projects were assessed as potentially high risk. 

EIB’s non-sovereign portfolio came sixth in the Core Information component, with 12.38 out of 20. It disclosed data for thirteen of the seventeen indicators. It scored 100% for six of these indicators, including accessibility, annual reports, status, project description, sector, and investment instrument. This is a result of EIB publishing to IATI and providing a bulk download file. However, EIB dropped points on other indicators as not all relevant data points were published to IATI or available in the bulk download file. Significantly, EIB was one of three non-sovereign DFIs not to score for the sovereign/non-sovereign indicator. It also failed to score for domicile, funding source, and E&S risk category. 

EIB came joint twelfth in the Impact Management component with a score of 6.75 out of 25. EIB scored points for two out of the three organisation-level indicators, impact measurement approach and evaluations. It did not score for any project-level indicators. 

EIB came joint eighth in the ESG and Accountability to Communities component, scoring 12.33 out of 30. It scored for all organisation-level indicators apart from independent accountability mechanism (IAM) community disclosure policy. It scored 100% for the E&S community disclosure policy, IAM global disclosure documentation, and project-level grievance mechanism (PGM) community disclosure policy indicators. However, it only scored for the IAM global disclosure indicator at the project level. As it is not possible to determine the E&S risk category of EIB investments all investments were treated as potentially high risk and E&S document disclosure was assessed in line with corresponding requirements.  

EIB came joint second-last in the Financial Information component, with 1 out of 15. It only scored for the financial reports/statements indicator. It did not score for any project-level indicators.  

EIB scored 2.5 out of 10 in the Financial Intermediary Sub-investments component, which was joint second. Although it scored for its policy to disclose private equity fund sub-investments, it did not score for project-level disclosure. It scored for FI (bank) use of funds but not for FI (bank) sub-investment disclosure.

Core Information 12.38 / 20
Impact Management 6.75 / 25
ESG & Accountability to Communities 12.33 / 30
Financial Information 1 / 15
Financial Intermediary Sub-investments 2.5 / 10

Recommendations

  • EIB should add more data points to its bulk download file that are already disclosed on its webpage, including total investment cost and date of activity disclosure. 
  • EIB should clearly label whether individual investments are sovereign or non-sovereign. 
  • It should disclose further Core Information indicators including domicile, disbursement, client contact, E&S risk category, approval date, and last update date. It should consistently disclose sub-national location, funding source, client description, and client contact. 
  • EIB should make adjustments to its access to information policy so that exceptions apply only where these protect against harm to identified legitimate interests. 
  • EIB should disclose project-level Impact Management indicators, including additionality statement, activity indicators/metrics, and results data for its projects. 
  • EIB should disclose project-level ESG and Accountability to Communities indicators, including summary of E&S risks and E&S documentation. 
  • It should create a policy guiding the disclosure of the presence of the IAM at community level. 
  • EIB should provide assurance of community disclosure for investments when disclosure is required. 
  • EIB should disclose the data included in the Financial Information project-level indicators of the DFI Transparency Tool. 
  • EIB should create a policy for disclosing FI sub-investments through banks. It should also publish sub-investments made through private equity funds according to its policy.
Core Information 12.38 / 20
Impact Management 6.75 / 25
ESG & Accountability to Communities 12.33 / 30
Financial Information 1 / 15
Financial Intermediary Sub-investments 2.5 / 10

Deep Dive

Core InformationImpact ManagementESG & Accountability to CommunitiesFinancial InformationFinancial Intermediary Sub-investments

Core Information

12.38 / 20
6 / 21
About component

The basic information that describes a DFI’s organisational policies and investments. This type of information is typically found in key organisation documents and represents the first tier of project information, typically disclosed on project web pages or in files available for bulk download. At the organisation level this includes access to information policies and annual reports. At the project level, this includes project titles, locations, and key dates.

Disclosure / access to information policy

Score: 2.25 out of 3

Accessibility

Score: 2 out of 2

Annual reports

Score: 1 out of 1

Project identification

Score: 0.88 out of 1

Status

Score: 1 out of 1

Project description

Score: 1 out of 1

Location

Score: 0.38 out of 1

Domicile (non-sovereign only)

Score: 0 out of 1

Sovereign / non-sovereign

Score: 0 out of 1

Sector

Score: 1 out of 1

Investment instrument

Score: 1 out of 1

Project costs

Score: 0.5 out of 1

Funding source

Score: 0 out of 1

Client

Score: 0.5 out of 1

Contacts

Score: 0.5 out of 1

E&S risk category

Score: 0 out of 1

Progress dates

Score: 0.38 out of 1

Impact Management

6.75 / 25
12 / 21
About component

The ways in which a DFI predicts, measures, and evaluates the impacts of their investments. At the organisation level, this includes an impact measurement approach. At the project level, this includes activity indicators/metrics and results.

Impact measurement approach

Score: 3.75 out of 5

Sector / country strategy

Score: 0 out of 3

Evaluations

Score: 3 out of 3

Additionality statement (non-sovereign only)

Score: 0 out of 2

Activity indicators / metrics

Score: 0 out of 6

Results

Score: 0 out of 6

ESG & Accountability to Communities

12.33 / 30
9 / 21
About component

The ways in which a DFI predicts, mitigates, and communicates the ESG aspects of their activities. At the organisation level this includes E&S global disclosure policy and E&S community disclosure policy. At the project level this includes E&S plans and assessments, and assurance of community disclosure.

E&S global disclosure policy

Score: 3.33 out of 5

E&S community disclosure policy

Score: 4 out of 4

IAM global disclosure documentation

Score: 2 out of 2

IAM community disclosure policy

Score: 0 out of 2

PGM community disclosure policy

Score: 2 out of 2

Summary of E&S risks

Score: 0 out of 2

E&S project plans / assessments

Score: 0 out of 4

Assurance of E&S community disclosure

Score: 0 out of 2

Beneficial ownership (non-sovereign only)

Score: 0 out of 2

IAM global disclosure

Score: 1 out of 1

Assurance of IAM community disclosure

Score: 0 out of 2

Assurance of PGM community disclosure

Score: 0 out of 2

Financial Information

1 / 15
10 / 21
About component

This information provides details on the financial performance of DFIs and the structuring of investments. At the organisation level, this includes audited financial reports. At the project level, this includes currency of investment, mobilisation, and concessionality

Financial reports / statements

Score: 1 out of 1

Repeat investment

Score: 0 out of 1

Currency of investment

Score: 0 out of 1

Co-financing

Score: 0 out of 3

Concessionality (non-sovereign only)

Score: 0 out of 3

Mobilisation (non-sovereign only)

Score: 0 out of 3

Instrument-specific disclosure

Score: 0 out of 3

Financial Intermediary Sub-investments

2.5 / 10
3 / 21
About component

This information relates to the ways in which investments in FIs are used. At the organisation level, this includes FI sub-investment policy. At the project level, this includes private equity fund sub-investments and FI (bank) sub-investments.

FI sub-investment policy

Score: 1.25 out of 3.75

Private equity fund sub-investments

Score: 0 out of 2.5

FI (bank) use of funds

Score: 1.25 out of 1.25

FI (bank) sub-investments

Score: 0 out of 2.5
DFI

DFI Transparency Index 2023

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