The President of the European Investment Bank, Werner Hoyer, participated at the margin of the IMF / World Bank spring meetings at a panel discussion “The Way Forward for the Eurozone and Europe: A Conversation with European Policymakers”.
The discussion was organised by the Brookings Institution, a highly renowned think tank in Washington. It was the first time that the five European institutions – the European Central Bank, the European Stability Mechanism, the European Commission, the President of the Euro Finance Ministers and the EIB - presented to an international audience their coherent strategy to overcome the current sovereign debt crisis.
In addition he emphasised that the EIB will ensure the most effective response addressing specific investment needs by using new financial instruments to alleviate financial constraints, in particular for small and medium sized enterprises. As examples he mentioned the Greek Trade Finance Facility and the Portuguese Portfolio State Guarantee.
But he made also clear that the EIB is the EU-Bank and not the bank of the Eurozone. He reiterated that the EIB is paying highest attention to a high-quality loan book, a conservative risk management and strict internal regulatory compliance rules.
Following the tragedy that struck Beirut on August 4, President Hoyer will speak at the Conférence internationale d’appui et de soutien à Beyrouth et à la population libanaise (International conference on assistance and support to Beirut and the Lebanese people).
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D. the Minister for Finance, Paschal Donohoe T.D and the Minister for Agriculture, Food and the Marine, Dara Calleary T.D. today (Thursday the 30th of July) launched a €500 million expansion to the Future Growth Loan, the government’s scheme to support SMEs, farmers and fishing. The additional funding will be provided by the EIB Group.
Pursuant to Article 27 of the Bank’s Rules of Procedure, Ms Beatrice DEVILLON-COHEN (former Managing Director – Head of Derivatives Trading, Société Générale, London) was proposed as a candidate to perform the duties of an observer to the Audit Committee.