Title page
Contents
FOREWORD BY THE PRESIDENT 5
OVERVIEW OF THE YEAR 8
GLOBAL CHALLENGES, DEEPER PARTNERSHIPS 18
UKRAINE 21
ENLARGEMENT COUNTRIES 23
RAIL RENAISSANCE IN NORTH MACEDONIA 25
NEIGHBOURHOOD REGIONS 27
LETTING ENERGY FLOW ACROSS THE MEDITERRANEAN 29
SUB-SAHARAN AFRICA 31
INVESTING IN HEALTH: FROM POLIO ERADICATION TO LOCAL VACCINE MANUFACTURING IN AFRICA 33
ASIA, THE PACIFIC, LATIN AMERICA AND THE CARIBBEAN 35
FAIRNESS IN THE FAVELAS 37
DELIVERING ON EU PRIORITIES 40
GLOBAL GATEWAY 41
CLIMATE ACTION 45
JOBS AND INCLUSIVE GROWTH 51
SPECIAL FOCUS: GENDER 57
SPECIAL FOCUS: FRAGILITY AND CONFLICT 61
ENHANCING IMPACT 64
ENHANCING LOCAL PRESENCE 65
UNLOCKING IMPACT THROUGH BLENDING 67
ADVISORY ACTIVITIES 69
WORKING IN PARTNERSHIP 72
LEARNING FROM AN EVALUATION OF EIB LENDING TO THE WATER SECTOR 73
TRACKING RESULTS 76
HOW WE MEASURE RESULTS AND IMPACT 77
EXPECTED RESULTS OF NEW PROJECTS 79
THE EIB'S CONTRIBUTION TO NEW PROJECTS 83
CARBON FOOTPRINT EXERCISE 86
MACROECONOMIC IMPACT MODELLING 87
RESULTS OF COMPLETED PROJECTS 88
ANNEX 1: LENDING VOLUMES 92
Table 1. Financing arrangements signed in 2023 by region and public policy goal (in EUR million) 13
Table 2. Selected expected results for 2023 projects 14
Table 3. Expected results of new infrastructure projects 79
Table 4. Expected employment results of new infrastructure projects 81
Table 5. Expected results of new private sector development projects 82
Table 6. AIM Pillar 3: the EIB contribution - summary for different instrument types for 75 new projects assessed under the AIM framework 84
Table 7. ReM Pillar 3: the EIB contribution - summary for different instrument types for four new projects assessed under the ReM framework 84
Table 8. Share of EIB disbursements to OECD Development Assistance Committee listed countries in 2022 that qualify for official development assistance 85
Table 9. Indirect employment impact of €37.5 billion of investment supported by EIB lending outside the European Union in 2023: Joint Impact Model results 87
Table 10. Results achieved for ten completed credit lines 88
Table 11. Results expected for ten completed credit lines 89
Table 12. Results for infrastructure projects completed in 2023 89
Table 13. Results for infrastructure projects completed in 2023 - Employment 91
Table 14. 2023 aggregate lending volumes (in EUR million) 92
Figure 1. 2023 highlights from ongoing projects in Ukraine 22
Figure 2. EIB lending in Enlargement countries 24
Figure 3. EIB lending in Neighbourhood regions 28
Figure 4. EIB lending in sub-Saharan Africa 32
Figure 5. EIB lending in Asia-Pacific, Latin America and the Caribbean 36
Figure 6. EIB Global financing in 2023, by Global Gateway sectors 42
Figure 7. EIB Global lending to climate action and environmental sustainability, over time 46
Figure 8. Impact of EIB-backed loans on beneficiary firms' employment in the Western Balkans 54
Figure 9. Headquarters and countries of operation of Boost Africa-backed startups 56
Figure 10. EIB Global's network of external offices 66
Figure 11. The AIM framework and the results chain 77