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 slow political progress on solving the eurozone crisis, Draghi's statement has been seen as a key turning point in the fortunes of the eurozone. Following up on Draghi's speech, the Governing Council of the European Central Bank (ECB) announced on 2 August 2012, that it "may undertake outright open market operations of a size adequate to reach its objective" in order to "safeguarding an appropriate monetary policy transmission and the singleness of the monetary policy". The technical framework of these operations was formulated on 6 September 2012 when the ECB announced the launch of the Outright Monetary Transactions programme (OMT).