The EIB still has a massive problem with its complaint procedure

By Stephanie Amoako, Accountability Counsel, EUobserver

As the United States pulls back from global leadership, the recent European Investment Bank (EIB) group forum in Luxembourg came at a crucial time.

As the world’s largest multilateral development bank, the EIB now has a chance to become a responsible development actor — but if and only if the institution properly addresses long-standing deficiencies of its Complaints Mechanism and commitment to accountability.

On the surface, the EIB presents itself as an ambitious and forward-thinking institution. While it primarily invests in Europe, it has expanded its scope and branded itself as a “climate bank”, using global financing to promote gender equality, human rights, and other EU values.

Compared to the US’ shrinking role on these topics, this year’s EIB group forum notably included a “Global Days” portion devoted to global challenges for the first time.

However, the EIB’s track record raises a big question about whether its actions can reflect its ambitions.