There is broad agreement that Europe needs more investment, but that fiscal constraints limit what governments can do. This policy note conducts a balance sheet analysis of the European Investment Bank (EIB) to determine the degree to which it is operating at capacity to support Europe’s priorities. It finds that EIB’s financing has stagnated over the past decade and that EIB has conducted a sharp de leveraging that is out of step with its risk management policies and those of its peers. […]