EU Supportive Of Cuba, But Why EIB Has No "Mandate" To Finance Investments In Cuba?

“To date, EIB has not received such a mandate to finance investments in Cuba; there is no visibility on whether EIB will receive the mentioned mandate.” 

From A Representative Of The Kirchberg, Luxembourg-based European Investment Bank (EIB): 

“The European Investment Bank is the long-term lending institution of the European Union and is owned by the EU Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals both in Europe and beyond.  

The EIB is active in around 160 countries. With USD 100bn of climate-related investment committed in the 5 years up to 2020 in support of the Paris Agreement, the EU Bank is among the world’s largest financiers of climate action and the environment. EIB support has involved mitigation and adaptation projects in the Caribbean, Pacific, Atlantic Ocean, Indian Ocean and the Mediterranean. Projects include an airport in the Cook Islands, roads in La Reunion, a wind farm in Cape Verde, solar micro grids in the Maldives, upgraded water systems in the Seychelles and a hydro project in the Solomon Islands. 

The EIB is the largest multilateral public bank in the world and roughly 10% of its lending targets investments outside of the European Union.  

The EIB is the world’s largest international public bank and has supported development and economic activity in the Caribbean with loans and equity investment worth EUR 1.8 billion since its first operation in the region. EIB lending outside Europe require a lending mandate approved by EU authorities.  

To date, EIB has not received such a mandate to finance investments in Cuba; there is no visibility on whether EIB will receive the mentioned mandate.” 

Representatives of the EIB have visited the Republic of Cuba.