EIB: € 40 billion for coronavirus affected companies

EIB: € 40 billion for coronavirus affected companies

The European Investment Bank (EIB) is set to release €40 billion quickly to deal with the corona crisis. The money should be made available to companies affected by coronavirus measures across Europe.

In addition, the EIB has funds available for healthcare companies that need emergency infrastructure or are working on developing corona vaccines or Covid-19 drugs. The EIB also calls on Member States to guarantee loans to small and medium-sized enterprises (SMEs).

The €40 billion consists of €20 billion in bank guarantees, €10 billion in liquidity with which banks can provide working capital to SMEs and €10 billion in buying up collateralised loans. This allows banks to shift risks and provide more loans.

Read more: https://www.eib.org/en/press/all/2020-086-eib-group-will-rapidly-mobilise-eur-40-billion-to-fight-crisis-caused-by-covid-19.htm