At its meeting in December 2012, the presidents of the European Investment Bank (EIB) and the European Economic and Social Committee (EESC) highlighted the need to accelerate the pace of investment in the European Union in order to ensure economic recovery and growth. They stressed the need for investment in areas such as infrastructure, SMEs, innovation and knowledge, as well as energy and the fight against climate change.

The presidents of both organizations stressed that for the European Union to meet the objectives proposed in the Europe 2020 strategy and therefore achieve a smart, sustainable and inclusive growth, it will be crucial to increase the investment. In a crisis scenario, with budget cuts and a the reduction in private spending, long-term investments can put Europe back on the path of growth.

This meeting served to highlight the need for the European Investment Bank and the European Economic and Social Committee to establish closer relations, serving as a bridge between the Bank and civil society. The different tailored products available within the EIB can address the needs of specific sectors and help to leverage existing resources in order to attract private sector funding. For that reason both presidents expressed their support for a strong EU budget for the period 2014-2020.

EESC President Staffan Nilsson, also welcomed the relevance given to projects with a particular impact on growth, employment, economic cohesion and climate change. Given the long experience of the Committee in issues such as the problems, needs and expectations of local civil society and, most particularly, the needs of different business groups; establising closer relations between the EIB and the EESC would be a great contribution to the development of projects in areas of common interest.