Strong response to crisis
To further support growth and jobs in Europe, we intend to continue our counter-cyclical approach with a special focus on four priority areas: innovation and skills; access to finance for smaller businesses; climate action and strategic infrastructure. The EIB, together with the European Investment Fund – the specialist arm providing SME risk finance, strives to expand its support for SMEs in Europe even further and has broadened the range of distribution channels and products. The EIB Group is committed to working closely with the Commission, Member States, national development banks and other stakeholders to continue to provide innovative, pragmatic and efficient solutions to further catalyse investment in the EU and increase the leverage effect of EU budgetary resources and Member State contributions.
Delivering an exceptional response: our 2014-2016 strategy
Each year we update our rolling three-year operational strategy and we have set ambitious lending targets in response to the crisis. The EUR 10bn capital increase agreed by our shareholders, the EU Member States in 2012, allows for EUR 60bn additional lending in the EU during the 2013-2015 period. This has enabled us to deliver an exceptional increase in lending in 2013 and provide support to economic recovery in Europe, playing our role to catalysing investment, attracting other investors and rebuilding confidence in the market.
As the EU bank, we will continue on this growth-enhancing course as part of the Union’s strategy to address the longer-term consequences of the crisis and maintain our ambitious targets for the 2014-2016 period. The three-year plan foresees lending targets set at around EUR 67bn for 2014 and 2015 with a return long-term sustainable lending levels in 2016.
The Bank remains focused on viable projects targeting growth and employment, particularly in vulnerable countries.
We will devote significant efforts to support new initiatives, enabling innovative solutions to resolve structural issues in the economy, as well as using more targeted products to address the varying needs of EU Member States.
Outside the EU, the Bank will stay firmly engaged to support EU policy.