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It said infrastructure orders were up but infrastructure margins were down.
McDonnell said infrastructure spending per head in the north-east was just £414 compared with £5,300 in London.
EIB president Philippe Maystadt said: "Infrastructure finance in Europe has suffered since the financial crisis and banks face new constraints on long term lending.
Last week, at the Labour party conference, Labour MP Iain Wright said infrastructure projects had been cut "far too quickly and far too severely" in 2010.
The move was welcomed by the Institute of Directors, which said infrastructure spending was a top priority for its members, including investment in broadband, roads and local rail.
When the financial officers were asked which budget factors had the most negative impact on their cities, 80 percent said health benefit costs, 75 percent said pension costs and 73 percent said infrastructure demands.
Similar(38)
Moreover, potential investment is skewed toward housing rather than, say, infrastructure, manufacturing and education.
How would you answer critics who say infrastructure investment should focus on the north?
Costs are rising even as engineers across the country say infrastructure is rapidly decaying.
And they make it that much harder to propose new and much-needed investments in, say, infrastructure and education.
Instead integration must include common projects on, say, infrastructure and renewable energy, paid for by "new financial instruments".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com