Now more than ever, inclusion is vital: “the provision of inclusive financial services to micro-entrepreneurs, smallholder households and socially vulnerable groups, including women and the youth, is a crucial vehicle to promote economic development and help people out of poverty,” stated President Hoyer, while further pointing out that “to break this vicious circle of poverty and informal, cash-based economy, financial inclusion must be promoted as an economic and development policy tool.”
The CGAP meeting was attended by around 100 representatives for governments and international agencies. Afterwards, President Hoyer discussed youth unemployment, entrepreneurship and SME financing with Queen Maxima in a bilateral meeting, and met with senior officials from Luxembourg’s Ministry of Foreign Affairs, the EBRD and the IFC, amongst others.
The EIB Group has stepped up its level of precaution at its headquarters in Luxembourg and in its external offices. All staff will telework as of 16 March. A small number of staff whose physical presence on EIB premises is indispensable will continue to be present on the EIB campus. The decision aims to protect the health of employees and ensure the continuity of the EIB Group’s activity.
On Wednesday the EIB identified its first case of one staff member who tested positive for corona virus.
As a precautionary measure, the EIB decided not to hold the meeting of its Board of Directors planned for Thursday 12 March in person. Decisions on the Board’s agenda will be taken by written procedure. The Bank has put in place measures to prevent disruption to its governance or operation approval schedule.
On Monday 2 March, the former President of the European Council, Donald Tusk, visited the EIB in Luxembourg on a joint invitation from the Bank, the European Stability Mechanism (ESM) and the Court of Auditors.