European Investment Bank

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A bank set up under the Treaty of Rome in 1958 to finance capital-investment projects in the European Economic Community (EEC). It grants long-term loans to private companies and public institutions for projects that further the aims of the Community. The members of the EIB are the 27 member states of the European Union, all of whom have subscribed to the bank's capital. Most of the funds lent by the bank are borrowed on the EU and international capital markets. The bank is non-profitmaking and charges interest at a rate that reflects the rate at which it borrows. Its headquarters are in Luxembourg.

Subjects: Economics.

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