BRUSSELS — The European Investment Bank and European Bank for Reconstruction and Development used their latest exchange with European Union countries to sharpen their pitches to lead the bloc’s investments in Africa — and were not afraid to throw an elbow their rival’s way in the process.
As the EU works to decide which organization is best placed to take the helm as its key development bank, EU finance ministers sent in written questions to help inform the decision. The banks’ responses, submitted at the end of January and seen by Devex, seek to highlight their existing strengths and future potential for the job.
For EBRD, EIB “does not have some key features of a development finance institution, such as, among others, market-based pricing, risk appetite, policy reform engagements, strong local presence, and the role that recipient countries play in its governance.”