Ostensibly designed to support international infrastructure investment, but also a cat's paw of private banking interests. The EIB is a major promoter of highly corrupt PPPs, or Public Private Partnerships, which place the infrastructure investment off of the country's balance sheets -- which is promoted by the EU's restrictions on government spending and on the EU's Eurostat rule that place PPP projects off of each country's balance sheets. The primary purpose of the EIB is to "guide" public investment to corrupt private entities that are connected to the EIB. The EIB, while named Europe, functions in Africa, reducing the effcicency and increasing the waste in infrastructure projects there as well. The corruption built into the EIB and the PPPs it endores is found in the following quotation. “As more and more government functions get privatized, states become pay-to-play paradises, in which both political contributions and contracts for friends and relatives become a quid pro quo for getting government business… a corrupt nexus of privatization and patronage that is undermining government across much of our nation.” - Paul Krugman. And in this quotation. "In the water sector, courts in France have convicted executives and public officials for bribes paid by Suez and Veolia subsidiaries in the cities of Grenoble and Angouleme and the island of Reunion. A 1997 report by the Cour des Comptes, France’s national audit body, said that the system of ‘delegated management’ on which Suez and Veolia built their national dominance was systematically flawed: “The lack of supervision and control of delegated public services, aggravated by the lack of transparency of this form of management, has led to abuses.” In 2002 a senior executive of Vivendi (now Veolia) was convicted of planning to bribe local politicians in the both the majority and opposition parties of
Milan city council in order to win the tender for a wastewater treatment plant in the south of Milan, Italy." - Why PPP Doesn't Work