European investment bank loan appraisal, the EU climate bank?

Antoine Ebeling

International Economics, 2022, issue 172, 203-216

Abstract: What are the determining factors in the allocation of European Investment Bank (EIB) green investments? Using data describing more than 17,000 EIB loans to European Union (EU) member states from 1960 to 2020, we first break down EIB loans into green, neutral and brown loans. We then provide evidence that EIB green investments tend to be allocated to the most advanced economies, specifically, that green investment is positively correlated with high GDP per capita and increases with national environmental expenditure. Our findings illustrate the dichotomy between economic development and environmental objectives faced by the EIB.

Keywords: European Investment Bank; Green investment; Climate policy (search for similar items in EconPapers)
JEL-codes: E22 G24 Q56 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:cii:cepiie:2022-q3-172-13

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