With a letter Counter Balance has welcomed Werner Hoyer, the new president of the EIB, to his new post. Hoyer, formerly state secretary in Germany’s foreign office and a member of the Free Democrats, the junior partner in Chancellor Angela Merkel’s government, becomes the EIB’s seventh president, succeeding Philippe Maystadt.

We have noticed some positive changes at the bank in recent years including the strengthening of the bank’s environmental policy, improvement of access to information from the EIB, the establishment of an internal accountability mechanism and the opening of public consultations on the EIB’s lending policies on which we hope the new president will built further.

We also expressed our concerns on a number of issues, notably lending outside the EU, climate change, working with financial intermediaries and Private Public Partnerships (PPPs), which we believe should be firmly on the new president’s radar.

Read the full letter