The EU is moving in the right direction to expand innovation finance, Deputy Managing Director of the European Fund for Strategic Investments Iliyana Tsanova said at the annual Webit.Festival Europe in Sofia. Despite this positive trend, she adds, “the 3 Fs – Funding, Fragmentation and Frame of Mind” are the main challenges for the EU to become a global innovation hub.
In response to these obstacles, the EU has emphasised research and development in the proposal for the next EU budget. “On the policy side, the EU strategies aim to address many of the challenges related to fragmentation of the European digital market,” Tsanova said.
“Frame of mind does not change overnight,” she said. “Technological developments and digitalisation change the way we live, and we have no choice but to embrace these changes.”
“Those who do not,” she added, “are likely to fall behind.”
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.