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I don't understand why people in the comment seem to obsess with “bureaucracy” and “taxpayers money”. The EIB is, as the name says: a bank. It has some strategi
by littlestymaar 1y ago
I don't understand why people in the comment seem to obsess with “bureaucracy” and “taxpayers money”. The EIB is, as the name says: a bank. It has some strategic targeting running, but the way it works is through making loans. The EIB is making profits with its investment activity!
- mleonhard 1y agoEIB has EUR 500B of capital, invests about 80B/year, and makes about 2B/year profit [0]. European states buy EIB bonds which pay interest [1]. This new 70B will come from bonds sold to EU member states. The states need to approve purchasing the bonds. EIB earns about 3% profit. Private banks earn about twice that [2]. EIB is a non-profit organization. EIB makes about 10% of its loans outside of the EU. [0] https://www.eib.org/attachments/lucalli/20240237_070525_financial_report_2024_en.pdf https://www.eib.org/attachments/lucalli/20240237_070525_fina... [1] https://en.wikipedia.org/wiki/European_Investment_Bank#Funding_sources https://en.wikipedia.org/wiki/European_Investment_Bank#Fundi... [2] https://www.bankingsupervision.europa.eu/press/speeches/date/2024/html/ssm.sp241016~c532e5246d.en.html https://www.bankingsupervision.europa.eu/press/speeches/date...
- carlosjobim 1y agoThe banks are a part of the government in the economic zone where they operate, or you could also say that the government is a part of the banks – since the banks have the strictly political privilege to conjure money. And bureaucracy is not limited to government offices.