EIB President Nadia Calviño said U.S. market turbulence is directing capital toward Europe, but the bank’s 2025 investor figures do not measure whether such a shift has occurred.
In a Nov. 9 interview on Bloomberg TV, Calviño said she expected the movement to persist. Bloomberg reported that she saw no current negative effect on investment in Europe and characterized demand for EIB bonds as strong. She offered no estimate of the flow, named no asset class or investor group, and gave no time frame.
The EIB’s 2025 financial report gives a baseline for investors in the bank’s own funding. European accounts supplied 65% of demand in 2025, compared with 64% a year earlier. American accounts accounted for 18%, down from 21%, while Asia’s share increased to 15% from 13%. The EIB described the overall geographic distribution as broadly stable.
That breakdown does not measure capital moving across Europe’s markets as a whole. It also predates the interview, so it cannot confirm whether turbulence in U.S. financial markets produced a change in 2026. Calviño described the movement as a current trend, while the published bank figures cover its 2025 funding.
She framed the market conditions as a reason to preserve Europe as a “safe haven,” Bloomberg reported. The phrase reflects her assessment of the region’s appeal; she did not connect it to a stated volume or category of assets.
At a capital markets seminar on Sept. 30 and Oct. 1, Calviño said the EIB had reached 90% of its 2026 issuance target. She also said its bond offerings had been oversubscribed many times. The comments came before her Nov. 9 interview and describe the bank’s funding program, not a measured change in cross-border flows afterward.
The EIB is owned by the 27 European Union member states and has served as the bloc’s lending arm since 1958. Its investor report tracks demand for funding from a regional institution, but the figures do not establish how much capital was redirected from the United States or who received it.
