Reasons for awarding the title

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Dr. Werner Hoyer
President, European Investment Bank  

The EIB and subsidiary European Investment Fund have helped drive innovation and productivity both in Europe as well as abroad, fulfilling a bank’s traditional function as financial intermediary to the real economy without crowding out the private sector.

In awarding the prize this year to Werner Hoyer, the Group “20 + 1” recognizes the EIB Group’s important contribution to the economic stability and development of Europe. Awarding the price to the president of the EIB, Werner Hoyer, demonstrates the need of commitment within the European Union. The prize reflects the work in the past, but in these challenging times it should also send a strong signal for the need of solidarity within Europe. 

The EIB sets standards. Nearly a third of the EIB’s activities in 2019 were earmarked for climate-related projects and environmental sustainability, and Hoyer is pushing for a higher share this year as he targets the 50 percent threshold for 2025. During his tenure, the bank has funded a cumulative 150 billion euros in projects that help reduce greenhouse gas emissions. More broadly, the EIB President has stated everything the bank does will now be fully aligned with the Paris Agreement on climate change.

Werner Hoyer took over as president in 2012. With his experience as a politician in various positions in Germany and his background as an economist, he navigates the EIB in very troubled and uncertain waters regarding Europe’s future. The price reflects his commitment as head of an European institution, but also the institution itself.

 

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