EU Finance Ministers welcome rapid EIB response to COVID-19 crisis
9 June 2020
EIB highlighted as key to mitigating economic and social impact of COVID
President Hoyer confirms COVID response and climate action priorities for year ahead
Slovakian Finance Minister Eduard Heger to be new chair of EIB Board of Governors
European finance ministers today welcomed the European Investment Bank’s EUR 240 billion rapid response to mitigate the impact of the COVID-19 crisis across Europe and around the world.
EIB COVID-19 response strengthening business resilience, research and public health
At the Annual Meeting of the EIB Board of Governors, meeting for the first time by video conference, finance ministers highlighted the significant impact of the EU Bank’s immediate response to mobilise EUR 40 billion of new investment since the start of the COVID-19 crisis and recent agreement to mobilise EUR 200 billion through the new pan-European Guarantee Fund identified as crucial for reducing the economic impact of the pandemic.
Finance Ministers further highlighted the key contribution of accelerated support for public health infrastructure and vaccine development, and strengthened engagement to provide EUR 5.2 billion of new support for priority investment by global partners at this time of need as part of Team Europe’s response.
“As the EU bank, the EIB invests in Europe’s future. We are committed to mitigating against the economic fallout caused by the COVID-19 pandemic both inside and outside the Union, while remaining steadfast in delivering climate action and ensuring a more sustainable future in Europe and our 160 countries of operation around the world. The firm backing of Europe’s finance ministers today is testament to the strong results of the bank over the past year, and this support remains the cornerstone of the bank’s future success,” said Werner Hoyer, President of the European Investment Bank.
The Board of Governors discussed developments affecting the EIB over the last year and key strategic issues for the EU Bank’s future engagement including Brexit, best-banking practice and scaling up investment under the new EU budget, including Invest EU.
New chair of Board of Governors
The European investment Bank Board of Governors comprises the 27 European Union finance ministers and was chaired by Slovenian Finance Minister Andrej Šircelj.
For the next 12 months the Board of Governors will be chaired by Eduard Heger, Minister of Finance of the Republic of Slovakia.
“The European Investment Bank Group plays a unique role supporting long-term investment that improves lives and opportunities across Europe and around the world. It is an honour to be the new Chairman of the EIB Board of Governors and I look forward to working with fellow finance ministers and the EIB to ensure that the EU Bank’s financial strength and technical expertise support Europe at this time of need.” said Eduard Heger, Minister of Finance of the Republic of Slovakia.
“My colleagues and I are grateful for the close contribution of Finance Minister Andrej Šircelj during the last 12 months and we look forward to working closely with Minister Eduard Heger over the coming year.” added President Hoyer.
The Luxembourg based European Investment Bank is the world’s largest international public bank and last year the European Investment Bank Group provided EUR 72.2 billion of new financing that supported EUR 280 billion of new investment in 1095 projects across Europe and around the world.
More than one hundred economies have received life-saving COVID-19 vaccines from COVAX, the global mechanism for equitable access to COVID-19 vaccines. The milestone comes 42 days after the first COVAX doses were shipped and delivered internationally, to Ghana on February 24th.
Uit een nieuwe studie van de Europese Investeringsbank (EIB) komt naar voren dat Nederlandse bedrijven zich weinig zorgen maken over de langetermijneffecten van klimaatverandering. De bedrijven in kwestie geven daarbij vooral aan dat dit komt doordat ze in het recente verleden al veel geïnvesteerd hebben in maatregelen voor klimaatadaptatie of –mitigatie. Hoewel de bedrijven vaak aangeven dat ze grote veranderingen verwachten op klimaatgebied, lijkt het opstellen van een strategie om deze tegemoet te komen nog achter te blijven. Wel loopt Nederland dus voorop als het gaat om reeds gedane klimaatinvesteringen, aldus de “2020 Investment Survey” van de EIB.
The European Investment Bank (EIB) and the Portuguese Government joined forces to promote the development of the hydrogen sector in the country. EIB Vice-President, Ricardo Mourinho Félix, and Minister of the Environment and Climate Action, João Pedro Matos Fernandes, signed today in Lisbon a Memorandum of Understanding (MoU) during the High Level Conference “Hydrogen in Society - Bridging the Gaps”, organised by the Portuguese Presidency of the Council of the European Union.. The proposed MoU is a non-binding agreement aimed at fostering cooperation between the two entities in the sector.