In whose interest?

Less than 50 years old, the European Investment Bank (EIB) has become one of the most poerful International Financial Institutions in the world. Acting on behalf of European citizens and the European Union Governments that own it, the EIB lends about €45 billion a year of public money for projects that claim to help development and cohesion of the European Union (EU). In the 1960’s the EIB started to finance projects in Africa and today about ten percent of the EIB’s financing is outside Europe, in countries from China to Brazil. This lending covers a wide spectrum of project investments including in energy, water, communication, industry and financial intermediaries. But in whose interests are these projects?