Economic Resilience Initiative Fund
The Economic Resilience Initiative Fund (ERIF) aims to support resilient and inclusive growth in Europe’s Southern Neighbourhood and the Western Balkans. Donor contributions help unlock investments that can create new opportunities in the regions, especially for vulnerable groups, including young people and women. The ERIF presents an opportunity for Donors, in particular EU Member States, to leverage the full range of instruments, networks and expertise at the EIB’s disposal to maximise the development impact of our collective finance in the affected regions and to work towards achieving the UN Sustainable Development Goals. The ERIF was established under the EIB-managed Partnerships Platform for Funds.
The Economic Resilience Initiative (ERI) was requested by the 28 EU Member States in 2016 as part of the joined-up response by the EU to the challenges posed by forced displacement and migration resulting from the war in Syria. ERI’s ambition is to support public and private investment with high social and economic returns in order to help tackle the numerous challenges in Europe’s Southern Neighbourhood and the Western Balkans. ERI focuses on long-term, sustainable solutions that are crucial for stable development in countries that are prone to shocks. Donor contributions are key to reaching the ERI objectives.
3,000 small businesses and midcaps to help sustain more than 160,000 jobs
Safer water and improved sanitation for over 4 million people
420,000 passengers will benefit daily from better urban and rail transport
Pledges to the ERIF have been made by 8 EU Member States: Croatia, Italy, Lithuania, Luxembourg, Poland, Slovakia, Slovenia and the United Kingdom.
ERIF donor contributions provide additional support to ERI operations in the form of investment grants or through financial instruments. These are used to provide concessional financing to facilitate investment in vital infrastructure and support higher risk or lower financial return investments with the potential to achieve enhanced social and economic impact.
Countries eligible for ERIF funding:
Algeria, Egypt, Jordan, Lebanon, Libya*, Morocco, Palestine**, Syria* and Tunisia
Albania, Bosnia and Herzegovina, Kosovo***, Montenegro, North Macedonia and Serbia
* The EIB will start operating in Libya once it has signed a Framework Agreement with the country. Following EU sanctions in November 2011, the EIB suspended all loan disbursements and technical advisory contracts for projects in Syria.
** This designation shall not be construed as recognition of a State of Palestine and is without prejudice to the individual positions of the Member States on this issue.
*** This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence. Hereafter referred to as Kosovo.