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
Member of the European Parliament Member States to the Union. The EU's annual budget is adopted jointly by Parliament and the Council of the European Union, within overall limit on EU spending decided on by unanimous agreement of all Member States and a multilateral Financial Framework laid down by Council with Parliament's consent. The Parliament may also block certain Commission decisions where there has been a delegation of powers to the Commission and may repeal such delegation of powers. The Parliament also elects the European Ombudsman and holds hearings with candidates for the President and Board members of European Central Bank, the Court of Auditors