EIB Annual Economics Conference 2021

The EIB’s annual economics conference, organised in cooperation with the OECD, Columbia University and SUERF, brought together almost 400 economists and policy makers of governments, national and international institutions, prominent academics and leading financial and corporate executives. President Hoyer, in his opening remarks, commented on the importance of partnerships and the urgency to set economic growth on the right course.

Europe: smart and green

Under the overarching theme of “Europe: smart and green”, the conference included vivid discussions and keynote speeches on topics ranging from the ways the pandemic will change the world to shifting perspectives on risk, the need for transparent public interventions and the role of financial markets and banks in the twin transition digital and carbon-neutral future. 

The conference also marked the launch of the annual EIB Investment Report, “Building a smart and green Europe in the COVID-19 era”, which was presented by our Chief Economist, Debora Revoltella.

“The US would benefit from an EIB of its own”

While the need to increase support for the EU’s recovery and transformation even further was pointed out, together with the improvement of investment absorption and technical capacities, key speakers commented on what Europe is already doing well.

Jeffrey Sachs, a world-renowned professor of economics, emphasised that the EU’s Green deal is “the gold standard, the best plan in the world, of what needs to be done to decarbonise our economies.” He concluded that the EU already has an institution that is crucial and capable of making the plan a success.

Providing a similar perspective from across the Atlantic, Nobel Laureate Joseph E. Stiglitz commented: 

🇪🇺 is lucky to have EIB focusing not only on crisis support but social returns. We need to provide more resources to development banks like EIB, that think long-term, remedy failures of short-term financial markets to decarbonise & accelerate innovation. @JosephEStiglitz #EIBEcon pic.twitter.com/C3XQmTVeNr

— European Investment Bank (@EIB) January 22, 2021

“We have the means”

Other key speakers including Odile Renaud-Basso, President European Bank for Reconstruction and Development, and Klaus Regling -Managing Director European Stability Mechanism, focused on what Europe needs to do to turn the emergency of the COVID-19 pandemic into an opportunity to address the long-term challenge of the digital and green transition. Parallel sessions dived deeper into topics ranging from the challenges facing local governments in Europe to the need to help developing deal with the pandemic, and to support green development around the globe.

Speaking on the second day of the conference, Charles Michel, President of the European Council, set out a determined ad optimistic vision:

'In 2019 we committed to climate neutrality by 2050. This resulted in our #EUGreenDeal. We forged an ambitious new Digital Agenda. Taken together, our Green & Digital ambitions represent a powerful twin-engine strategy for growth'
— @EUCouncil President Charles Michel #EIBEcon pic.twitter.com/vhIznqfKvI

— European Investment Bank (@EIB) January 22, 2021

'We have set our climate goals. We have set our digital goals. And, we have the means to do it'
— @EUCouncil President Charles Michel at #EIBEcon
Read his full policy keynote 👉 https://t.co/otGbHzFqHv pic.twitter.com/eYxlANQlmI

— European Investment Bank (@EIB) January 22, 2021

Find out more about the conference

• Full proceedings of the conference
• EIB Investment Report 2020-2021 posters
• Playlist of the event’s videos