Live Breaking News & Updates on Eib Group Increases Financing To 77 Billion In 2020

In the year of the worst global health and economic crisis for generations, the European Investment Bank (EIB) Group rapidly redirected its business to fight the COVID-19 pandemic and its economic consequences on all fronts. It increased
financing volumes to €76.8 billion, exceeding its own targets. A third of these funds, €25.5 billion, went into the immediate crisis response that started with a first package in March. Most of it went to small and medium-sized businesses to avoid insolvencies and job losses, especially in countries that did not have the budgetary means for massive national rescue packages.
Reflecting the additional need for assistance caused by the COVID-19 pandemic, EIB Group support for small and medium-sized companies grew by €5 billion to €30.6 billion. In total, more than 425 000 companies profited from financing, sustaining more than 4.2 million jobs. The EU bank achieved this without neglecting its other investment priorities: environ ....

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