The European Investment Bank is known as the funding arm of the EU, disbursing hundreds of billions of euros for development projects in support of goals like climate action, social cohesion and gender equality. But behind the EIB’s shiny exterior and its lofty policy ambitions, there’s another, darker story. Interviews with more than two dozen current and former employees, court filings and internal documents paint a picture of an institution where accusations of sexual harassment, bullying and discrimination largely go unpunished. In 2016, two psychologists hired by the bank to counsel employees had even warned of “suicidal risk” among staff, and in the past seven years, two people have indeed taken their own lives on its premises. Read our full investigation here. - Stephanie Bodoni and Gavin Finch

What’s Happening

Ukraine Dilemma | EU foreign ministers are assembling via video conference today, and the meeting is likely to be dominated by one thing: what to do about Ukraine. They’ll be joined by the country’s foreign minister, who has been busy drumming up Western support in the face of a Russian military buildup on the border and a partial closure of the Black Sea. Expect stern words, but no new sanctions.

Critical Condition | Just as worrying and even more urgent is the deteriorating health of Vladimir Putin’s most vocal opponent. Alexey Navalny’s supporters said he may die within days as they organized national protests. Commission President Ursula von der Leyen called for the prisoner’s “immediate and unconditional release,” while the U.S. warned of “consequences” if he dies.

German Showdown | Bavarian State Premier Markus Soeder flew to Berlin last night with support piling up for his bid to lead Chancellor Angela Merkel’s conservative bloc into September’s election. A decision is expected soon in the messy power struggle, which could presage more dramatic shifts in the way Germany is run.

Forward Thinking | Europe’s accelerating vaccination push is allowing monetary officials to begin pondering a Covid-free future. While ECB policy makers will this week reiterate existing emergency stimulus settings with a horizon of March 2022, the step-up in immunizations has emboldened some of them to start a public discussion on what might happen when the pandemic is no longer such a menace.

Grim Milestone | Deaths from the global pandemic continue unabated despite global inoculation efforts and are now increasingly borne by the poorest places. More than 3 million lives have been lost, with the latest 1 million recorded fatalities coming even faster than the first two. Here's the latest. 

In Case You Missed It

Travel Plans | The EU will try to coordinate a common policy for travelers from countries dealing with coronavirus variants such as Brazil and India, France’s Foreign Affairs Minister Jean-Yves Le Drian said yesterday. The country will discuss its new measures with European partners early next week, Prime Minister Jean Castex said in an emailed statement.

Draghi’s Bet | Mario Draghi is using his position to deliver the one thing he could never conjure up as head of the ECB: massive fiscal stimulus. The Italian premier is acting on the conviction that Europe’s economies will be stronger in the long run if fiscal and monetary authorities work together. While that means running up massive debts in the short run, the alternative would risk leaving Italy and the EU lagging behind.

Czechs Unite | By blaming Russia for a deadly explosion and expelling 18 embassy staffers, Czech leaders underscored escalating Western concern about Putin’s actions. The accusations signal a shift from the divided foreign policy in a country that Putin has used to increase influence among members of NATO and the EU.

Nuclear Talks | The U.S. and Iran edged closer to ending their standoff over the nuclear deal, with Washington describing talks as “constructive” and the Islamic Republic signaling that it was ready to debate the details of how the two sides could revive the 2015 accord. World powers have been meeting in Vienna since April 9 to try and find a path forward. 

We’ll Take Them | As safety concerns prompt western European countries to limit the use of AstraZeneca’s coronavirus shot, Ukraine is leading a charge from the continent’s east to scoop up unwanted doses. The country’s inoculation program is among Europe’s slowest.

Chart of the Day

The U.K.’s departure from the EU prodded more than 440 financial firms to move at least some of their operations, staff, assets or legal entities to the bloc from Britain. That includes 126 asset management firms, 81 banks and 65 insurers, according to a report published last week by New Financial, a London-based think tank. 

Today’s Agenda (All times CET.)

• 9:30 a.m. Informal video conference of EU foreign affairs ministers
• 11 a.m. Germany’s Greens due to announce their chancellor candidate
• 1 p.m. EU Parliament, Commission, Council of the EU press conference on the launch of the digital platform of the Conference on the Future of Europe