The EIB Group has announced details of a comprehensive response to the coronavirus pandemic outside the EU that will provide up to €6.7 billion in the coming months. This financing is part of the Team Europe response and supported by guarantees from the EU budget. It will both strengthen urgent health investment and accelerate long-standing support for private sector investment that reflects financing needs in more than 100 countries around the world.
The EIB Group will also provide €1.7 billion to support the social and economic recovery of the Western Balkans from the COVID-19 pandemic, as part of a €3.3 billion financial support package for the region announced on 29 April by the European Commission.
The immediate fast-tracked support will help to sustain jobs and livelihoods in sectors most threatened by the economic and social impacts of the coronavirus, and will be followed by additional long-term health and business financing as needed.
Latest news: European bilateral development finance institutions and EIB launch EUR 280 million financing initiative to support Covid-19 impacted business
We are also enhancing our collaboration with the World Health Organisation (WHO) to strengthen public health, supply of essential equipment, training and hygiene investment in countries most vulnerable to the COVID-19 pandemic. This new partnership will help increase resilience to reduce the health and social impact of future health emergencies.
The Bank also joined the EU-led global Pledging Conference, contributing €4.9 billion in partnership with the European Commission to end the pandemic.
Our support in a nutshell:
- Accelerated financing and targeted technical assistance for partners in 100 countries as part of the Team Europe response package
- Short-term support for health and business investment in Africa, Eastern and Southern Neighbourhood Countries, Western Balkans, Asia and Latin America
- Increased backing for business impacted by the pandemic