European Investment Bank European Investment Bank The European Investment Bank (EIB) is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome. As a "policy-driven bank" whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about European integration and social cohesion. It should not be confused with the European Central Bank, which is based in Frankfurt (Germany) or with the European Bank for Reconstruction and Development (EBRD) which is based in London (United Kingdom). The EIB is a publicly owned international financial institution and its shareholders are the EU member
European Central Bank examples where the ECB is less transparent than other institutions: In return to its high degree of independence and discretion, the ECB is accountable to the European Parliament (and to a lesser extent to the European Court of Auditors, the European Ombudsman and the Court of Justice of the EU (CJEU). Although no interinstitutional agreement exists between the European Parliament and the ECB to regulate the ECB's accountability framework, it as been inspired by a resolution of the European Parliament adopted in 1998 which was then informally agreed with the ECB and incorporated into the Parliament's rule of procedure. The