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Lessons for Development Banking from the EIB

Lessons for Development Banking from the EIB. Judith Tyson SOAS, University of London. Why the European Investment Bank?. Very successful in financing European development Traditional development bank Combined with innovation. “Traditional” development bank. “Missing markets”

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Lessons for Development Banking from the EIB

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  1. Lessons for Development Banking from the EIB Judith Tyson SOAS, University of London

  2. Why the European Investment Bank? • Very successful in financing European development • Traditional development bank • Combined with innovation

  3. “Traditional” development bank • “Missing markets” • Long-term, large scale financing • Beyond capacity of individual states • Common-interest projects • Anti-cyclical & shock financing • Highly relevant in recent crisis • Essential to macroeconomic stabilization

  4. Innovation in policy... • “Smart, sustainable & inclusive growth” • Green infrastructure • Huge scale & timeframe for projects • Externalities of costs of inaction • High-value employment • Research and development • Enabling infrastructure

  5. Innovation in execution... Risk & results! • Bank has taken risk! • Bank has focused on results! • Partnerships with private sector

  6. Developing country lessons • Traditional role critical • Missing markets • Anti cyclical and shock financing • Be bold! ... • Risk takers & innovators focused on results, not protecting banks capital • “Use” the private sector • Policy: ... leapfrogging” to green technology • The new BRICS bank?

  7. Further references • “The European Investment Bank: Lessons for Developing Countries”. S. Griffith-Jones and J Tyson. UN Wider, 2012 • “The European Investment Bank and SMEs: Key Lessons for Latin America & the Caribbean”. S. Griffith-Jones and J Tyson. CEPAL, 2011 • “The European Investment Bank and its Role in Regional Development and Integration” Griffith-Jones, S, and Tyson, J, n 'The Transformations of the International Financial System' edited by Cintra, Marcos Antonio Macedo & Gomes, Keiti da Rocha, 2012 • “Reform of the European Investment Bank: How to upgrade the EIB's role in development”. Griffith-Jones, S and Tyson, J 2011. European Parliament's Committee on Development

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