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Add to Preferred SourcesEuropean finance ministers welcomed the European Investment Bank’s EUR 240 billion rapid response to mitigate the impact of the COVID-19 crisis across Europe and around the world.
At the Annual Meeting of the EIB Board of Governors, meeting for the first time by video conference, finance ministers highlighted the significant impact of the EU Bank’s immediate response to mobilise EUR 40 billion of new investment since the start of the COVID-19 crisis and recent agreement to mobilise EUR 200 billion through the new pan-European Guarantee Fund identified as crucial for reducing the economic impact of the pandemic.
“As the EU bank, the EIB invests in Europe’s future. We are committed to mitigating against the economic fallout caused by the COVID-19 pandemic both inside and outside the Union while remaining steadfast in delivering climate action and ensuring a more sustainable future in Europe and our 160 countries of operation around the world. The firm backing of Europe’s finance ministers is testament to the strong results of the bank over the past year, and this support remains the cornerstone of the bank’s future success,” said Werner Hoyer, President of the European Investment Bank.
Finance Ministers further highlighted the key contribution of accelerated support for public health infrastructure and vaccine development and strengthened engagement to provide EUR 5.2 billion of new support for priority investment by global partners at this time of need as part of Team Europe’s response.
Original source: EIB
Published on 09 June 2020