Nadia Calviño (EIB): A Roaring Nomination to Face the Bear
Nadia Calviño brings to her recent appointment as President of the European Investment Bank a portfolio of deep public policy, economics, and financial experience. In one of her first actions, opening EIB offices in Riga and Tallinn, Ms. Calviño has shown her mettle in supporting member countries facing unprecedented challenges.
“EIB support for Ukraine remains steadfast and unwavering.”
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Who is Nadia Calviño?
Nadia Calviño is no neophyte in the labyrinth of European power. Educated as a lawyer and economist, she has held several prominent positions within the Spanish government, the European Commission, and the International Monetary Fund. Ms. Calviño served as First Vice-President of Spain and Minister of Economy, Trade and Enterprise until December 2023. Previously she held positions, including Second Vice-President and Minister for Economy and Digitalization, Third Vice-President and Minister for Economy and Digitalization, and Minister for Economy and Business. Additionally, she chaired the International Monetary and Financial Committee (IMFC) of the IMF from 2022 to 2023.
Over what is Nadia Calviño presiding?
With her education and experience European Union finance ministers considered Nadia Calviño the best candidate to oversee the European Investment Bank’s balance sheet of more than half a trillion euros. Founded in the earliest days of what became the EU, the EIB is one of the world’s largest multinational lenders. It has contributed to growth across the EU but operates in 160 countries. At a time when Europe and the world face unprecedented challenges, the EIB seeks to make a major contribution to cohesion, the climate, and the environment through its innovative, digital, and human capital support for small and medium-sized businesses, sustainable cities and regions and sustainable energy and natural resources.
What is expected from Nadia Calviño’s tenure as President of the EIB?
At a time when the EU’s eastern-most members are feeling the chilling draft from the Russian invasion of Ukraine, one of Ms. Calviño’s first actions was to declare “EIB support for Ukraine remains steadfast and unwavering. To date, we have provided over two billion euros to support Ukraine since the Russian invasion.“ This has been underwritten by her opening of EIB offices in the Latvian capital Riga and the Estonian capital Tallinn to provide support to local projects in areas such as innovation, green and secure energy as well as finance for SMEs. Since 2020, the EIB Group has coordinated its investments in Latvia and Estonia through its regional office in Vilnius, Lithuania. However, with growing opportunities and potential in the region, establishing a dedicated office in the other Baltic capitals is seen as essential to provide more focused support to local projects and to deepen cooperation with partners both in the public and private sectors.