[Bostonian]

The European IBank is an arm of the European Central Bank. The mandate of the ECB is to provide a stable currency, not to combat climate change. That is something for the European parliament and the governments of EU countries to tackle.

[et2o]

That is not the mandate of the EIB and has never been. From their website: “The European Investment Bank is the lending arm of the European Union.”

From the first paragraph on Wikipedia: “As a ‘policy-driven bank’ whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about European integration and social cohesion. It should not be confused with the European Central Bank.”

About their mission: “ As the ‘Bank of the European Union’. the EIB's mission is to make a difference to the future of Europe and its partners by supporting sound investments which further EU policy goals.”

So this is exactly the kind of thing they do.

[rsynnott]

Where’d you get that? The EIB is from the 50s, and includes non-ECB countries. It’s not an arm of the ECB.

[H8crilA]

"Development banks" have more of a fiscal than monetary responsibility.

Just like with IMF which is supposed to keep the world's monetary system stable (more like central banks/monetary side of things), and the World Bank which is supposed to induce progress (more like governments/fiscal side of things).