European Investment Bank 2010 and 2015, from a coalition of NGOs, implicated the EIB in tax avoidance by lending to businesses which use tax havens. 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
Institutions of the European Union of seats in the parliament were also changed to a formula system. The High Representative merged with the European Commissioner for External Relations and joined the Commission. The appointment of the Commission President became dependent upon the last EU elections. The Council of Ministers adopted more qualified majority voting and the European Council was made a distinct institution with a permanent president. The Court of Justice had some minor renaming and adjustments. In addition, the central bank became a full institution. There are three political institutions which hold the executive and legislative power of the Union. The Council of the