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.
The EIB approved new investment across Europe and around the world to improve clean energy, sustainable transport, high-speed communications and social housing, as well as health and education infrastructure.
In a challenging year, the EIB Group (EIB) exceeded its own targets, signing a record number of 1 095 operations and increasing financing volumes to EUR 72.22 billion. This was in spite of uncertainty and delays linked to Brexit and to the need for the remaining EU Member States to come to an agreement, last spring, over the replacement of the UK’s share of EIB capital.