Vienna Initiative

Our priority
Climate and environment
Climate action
Environmental protection
Innovation and skills
SMEs and mid-caps
European Union
Enlargement countries
European Free Trade Association
EIB in the Mediterranean partner countries*
Maximizing synergies
Financing & advisory services
Private equity
Advisory services
FEMIP Support Package
How to apply
Trust fund
Technical advisory
Risk capital operations
CAMENA climate action envelope
Organisation and staff
EU Eastern neighbours
Cooperation with other institutions and organisations
Financing facilities
DCFTA Initiative
Trust fund
Examples of EPTATF Operations
Institutional framework
Central Asia
Institutional framework
Cooperation with other institutions and organisations
Financing facilities
Technical assistance and grants
The EU bank in ACP
Our focus in the ACP region
Looking for a loan?
Investment Facility
Boost Africa
Our partners
Asia and Latin America
Agriculture, food and rural development
Digital economy
Education and training
Health and life science
Regional development
Trans-European Networks
Urban agenda
Global Climate City Challenge
Water and wastewater management
Our initiatives
Economic Resilience Initiative
Gender equality
Circular economy
Sustainable oceans and blue economy
Projects to be financed
Recently approved projects
Projects to be financed - Breakdown by region
Projects to be financed - Breakdown by sector
Explanatory notes
Financed projects
Projects to be financed - Breakdown by sector
Financed projects - Breakdown by region
EFSI project list
Project cycle
Applying for a loan
Operations evaluation
Operations Evaluation – Process and methodology

Vienna Initiative

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The European Bank Coordination Initiative (“Vienna Initiative”) seeks to safeguard the stability of the financial sector in central, eastern and south-eastern Europe. It is a forum in which international private and public sector actors take coordinated decisions. The creation and development of the Vienna Initiative have been driven by the EIB, the European Commission, the EBRD, the IMF and the World Bank.

Maintaining credit during the crisis

Launched in January 2009, the Initiative helped with emergency crisis-resolution measures to ensure the short-term viability of the region’s banking sector. Work focused on avoiding withdrawal from the region by international banking groups. As well, the EIB, the World Bank and the EBRD acted to maintain a flow of credit into these economies.

Coordinated, long-term policy action

After the immediate crisis abated, efforts turned to coordinating longer-term action as well as countering any re-emergence of financial stress. After new systemic concerns emerged in late 2011, it was decided to formalise these arrangements. The result was the “Vienna Initiative 2.0”, launched in January 2012.

Specifically, the objectives of the Vienna Initiative 2.0 are to:

  • Avoid disorderly deleveraging
  • Ensure that potential cross-border financial stability issues are resolved
  • Achieve policy action (notably in the supervisory area) is taken in the collective interest

For more information, visit the Vienna initiative website: