Financial Report 2022

OVERVIEW
 Since 1958, the European Investment Bank (EIB, or the Bank) has been promoting the policies and 
priorities of the European Union, while standing ready to scale up its support during exceptional times 
of crisis. Russia’s invasion of Ukraine in February 2022 has brought additional challenges to a global 
economy still dealing with the aftermath of the coronavirus pandemic. The European Union has adapted 
its policies in response, redirecting substantial resources, including political, financial and humanitarian 
assistance to Ukraine and the unfolding energy crisis.
 The EIB stands by the government and the people of Ukraine. In March 2022, the Bank, in agreement 
with the European Commission, provided a EUR 668 million financial support package to help Ukraine 
meet its most immediate and urgent financial needs. In July 2022, the EIB proposed a second support 
package of EUR 1.59 billion, to help the country fix damaged infrastructure, restart municipal services, 
and support urgent energy efficiency measures in preparation for the cold season. Disbursements 
under both packages benefit from guarantees from the European Union and complement other 
initiatives announced by EU institutions and the Member States of the European Union (EU Member 
States). 
The Bank also provided a EUR 4.0 billion package for the EU Member States hosting Ukrainian refugees, 
financing key infrastructure and services for refugees and host communities. The EIB continues to work 
on new initiatives to assist Ukraine over the short- and medium-term and to support its long-term goal 
of acceding to the European Union.
 The war in Ukraine and its impact on energy exports have also triggered a shock to the EU economy 
with significant challenges to the security and affordability of our energy supplies. This crisis adds a new 
strategic rationale to the European Union’s decarbonisation goal and calls for an acceleration of the 
clean energy transition already underway. In this context, the EIB welcomes the REPowerEU plan 
proposed by the European Commission and strongly supports the objective of phasing out the 
European Union’s dependency on Russian gas, oil and coal imports as soon as possible. 
With this objective in mind, the EIB and the European Investment Fund (EIF and together, the EIB Group) 
announced in October 2022 a financing package of an additional EUR 30 billion over the next five years 
for renewables, energy efficiency, grids and storage, electric-vehicle charging infrastructure, and 
breakthrough technologies, such as low-carbon hydrogen. 
Through the second year of implementation of its Climate Bank Roadmap, introduced in 2020, the EIB 
Group has remained strongly committed to financing projects supporting climate action and 
environmental sustainability. In 2022, the EIB signed EUR 36.6 billion of finance supporting climate 
action and environmental sustainability globally (58% of the Bank’s total financing, compared to 51% in 
2021). This represents an increase of approximately EUR 10 billion compared with 2021, driven to a large 
degree by an increase in renewable energy, energy efficiency and innovation in support.
 During COP27, the United Nations Climate Conference in Egypt, the Bank stepped up its efforts for the 
protection, restoration and sustainable use of nature, with the introduction of its Environment 
Framework, which promotes a green, resilient, equitable and inclusive development approach. The new 
Environment Framework consolidates the EIB’s efforts and activities contributing to environmental 
sustainability. It supports the EIB’s putting into action of its commitment, taken at the COP26, the United 
Nations Climate Conference in Glasgow, along with other multilateral development banks, to step up 

efforts towards the protection, restoration and sustainable use of nature. The EIB remains dedicated to 
its statutory mission of supporting the European Union’s economic and social cohesion and contributing 
to innovation and digitalisation investment, as well as to the European Union’s competitiveness. In 2022 
alone, EIB financing to the European Union’s cohesion priority regions amounted to EUR 24.8 billion, 
equivalent to 45.9% of the Bank's total signatures in the European Union (compared to EUR 19.8 billion 
or 41% in 2021). The EIB Group continues to support a transition towards environmentally sustainable 
economies and societies, for example, by helping regions that depend greatly on coal, oil and other 
fossil fuels to make the switch towards low-carbon and resilient economies.
 As in previous crises, the EIB Group is acting as a countercyclical force, supporting investment and 
growth in the European Union and beyond. Since the start of the coronavirus pandemic, the EIB Group 
has mobilised its resources to counter the disease and the economic fallout of the pandemic. In 2022, 
the EIB Group signed EUR 8.6 billion in new support related to its pandemic response programmes. 
Moreover, in light of the additional burdens weighing on the recovery from the pandemic, the allocation 
period for the guarantee products under the EIB pan-European Guarantee Fund (EGF), launched in 2020, 
was extended until the end of 2022. 
Delivering on EU mandates in the context of the 2021-2027 Multiannual Financial Framework (MFF) was 
an important part of the EIB Group’s activity in 2022. In March 2022, the EIB Group signed the InvestEU 
Guarantee Agreement and the InvestEU Advisory Hub Agreement, each with the European Commission. 
InvestEU is a key pillar of the European Union’s largest ever stimulus package, designed to support 
recovery from the pandemic and help build a greener, more digital and more resilient European 
economy. The EIB Group is proud to be the privileged partner in the InvestEU scheme, implementing 
75% of the EU budget guarantee (EUR 19.7 billion) to support finance and investment operations. The 
EIB continues to support the EU Member States by helping them leverage the resources of the Recovery 
and Resilience Facility, the European Union’s centrepiece to address the medium and long-term 
negative economic effects of the COVID-19 crisis and facilitate the implementation of new investment 
projects.
 EIB Global was launched in January 2022 as a direct response to the request by the Council of the 
European Union to strengthen the impact of EIB operations beyond the European Union based on 
dedicated strategies, stronger partnerships and an inclusive association of development policy makers. 
As such, it is an integral part of the European Union’s external and development financing toolbox. EIB 
Global benefits from the engagement and support of the EU Member States, the European Commission 
and increasing cooperation with development stakeholders. It supports the delivery and works within 
the parameters of EU external action policies in partner and candidate countries and is strengthening 
its presence at the country level within EU delegations. EIB Global is well placed to contribute to the 
EU global and geopolitical agenda and deploy its unique expertise in financing the green and digital 
transitions. It stands ready to provide a key contribution to addressing the extraordinary challenges 
many countries beyond the European Union are facing.
 In 2022, new financing signed by the Bank amounted to EUR 65.1 billion (of which EUR 62.6 billion 
under the Bank’s own resources), close to the upper end of the target range set in the 2022-24 
Operational Plan (compared to EUR 65.4 billion, of which EUR 54.3 billion under the Bank’s own 
resources in 2021). Total disbursements reached EUR 57.6 billion in 2022 (of which EUR 56.7 billion under 
the Bank’s own resources). In 2021, total disbursements amounted to EUR 41.4 billion (of which 
EUR 40.4 billion under the Bank’s own resources). 

Financial Report 2022