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REPORT (2024/2052(INI))

On the control of the financial activities of the European Investment Bank – annual report 2023

A-10-2025-0068

Committee on Budgetary Control · Rapporteur: Ondřej Knotek

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This resolution on the control of the financial activities of the European Investment Bank (EIB) for 2023 acknowledges the EIB's performance and calls for increased risk-taking in strategic areas, simplified procedures, and enhanced transparency and accountability. It welcomes the EIB's expanded role in defence, energy security, housing, and support for SMEs, and urges continued focus on cohesion, climate action, and digitalisation. The resolution calls for improved oversight, including full access for the European Court of Auditors to EIB operations involving EU funds, and for measures to prevent conflicts of interest and fraud.

Committee position. The Committee on Budgetary Control proposes a resolution that acknowledges the EIB's performance, calls for increased risk-taking and simplification, and demands enhanced transparency and accountability, including full access for the European Court of Auditors.

Key points

  1. Acknowledges the EIB's strong financial results in 2023, with net profit of EUR 2.272 billion and a CET1 ratio of 33.1%, and calls for analysis of the decrease in profit.
  2. Calls on the EIB to maintain its capital position and take on more risk in strategic investments, including higher-risk innovative projects.
  3. Notes the EIB's role in InvestEU and the RRF, and calls for simplification and reduced bureaucracy to improve access to financing for SMEs.
  4. Welcomes the EIB's increased financing for energy security, including REPowerEU+ targets, and calls for a clear overview to avoid double funding.
  5. Supports the EIB's expanded role in defence and security, including the removal of the revenue test for dual-use projects and increased financing under the Strategic European Security Initiative.
  6. Calls on the EIB to increase investments in affordable housing and social infrastructure, and to support local authorities in accessing funding.
  7. Encourages the EIB Group to continue supporting SMEs, start-ups, and scale-ups, and to develop the European venture capital market.
  8. Notes the EIB's financing for cohesion regions and climate action, and calls for maintaining technological neutrality and addressing regional disparities.
  9. Calls for increased investment in agriculture, critical raw materials, and digitalisation, with attention to rural areas and vulnerable groups.
  10. Urges the EIB to ensure transparency and accountability in its activities outside the EU, particularly in Ukraine, and to apply conditionality to all non-EU financing.
  11. Calls for enhanced transparency of the EIB's complaints mechanism and fraud investigations, and for the publication of more detailed reports.
  12. Requests that the European Court of Auditors have full access to all EIB operations involving EU funds, and that the EIB publish audit results of its largest operations.

Who is affected

  • The European Investment Bank Group, including the EIB and the European Investment Fund, is called on to increase risk-taking and simplify procedures.
  • Small and medium-sized enterprises, start-ups, and scale-ups are targeted for improved access to financing and support.
  • Local and regional authorities, especially in less developed regions, are to receive technical assistance for accessing EIB funding.
  • Ukrainian authorities are urged to strengthen administrative and audit capacity for managing EIB-funded projects.
  • The European Court of Auditors is called on to scrutinise all EIB operations involving EU funds.

Figures and deadlines

  • EUR 2.272 billion in consolidated results for 2023, down from EUR 2.327 billion in 2022.
  • CET1 ratio of 33.1% in 2023.
  • EUR 54.4 billion in total disbursements in 2023.
  • EUR 45.0 billion financing target for REPowerEU+ until 2027.
  • EUR 8.3 billion signed for energy efficiency operations in 2023.
  • EUR 41.8 billion for climate action and EUR 25.1 billion for environmental sustainability in 2023.
  • EUR 8.4 billion in financing by EIB Global in 2023.
  • EUR 5.750 billion EIB exposure in Ukraine as of 31 December 2023.