In 2016, we launched our flagship Economic Resilience Initiative for the Western Balkans and Europe’s Southern Neighbourhood (North Africa and the Middle East). Under this initiative, 60 projects have been approved for €5.83 billion in financing.
Key impacts of our Resilience Initiative include:
- lending to 11 363 smaller businesses and mid-caps, helping sustain 218 200 jobs
- creation of 8 806 new permanent jobs, with 223 270 jobs in the construction phase
- safer water for 4.5 million people and improved sanitation for a further 6.5 million
- better urban and rail transport for 420 000 passengers daily
- 6 600 new student places in higher education.
We stepped up our activities to enhance economic opportunity and access to social services in sub-Saharan Africa, too. The €800 million ACP Migration Package, launched in 2016, offers finance to the public and private sectors with a focus on resilience.