The European Investment Bank (EIB) joined the PRIF partners in 2010. The EIB is the long-term lending arm of the European Union. It is the largest multilateral financial institution in the world and one of the largest providers of climate finance. The EIB helps to create jobs, promote equality and improve lives for EU citizens and for people in partner developing countries. The EIB supports the policy priorities of the EU and its Member States in the Pacific region, particularly in the areas of climate action, vital infrastructure, private sector development and regional integration. The EIB lends to projects in the public and private sectors with a strong development impact that promote economic stability, sustainable growth and employment, working closely with European bodies such as the European Commission and international finance institutions.