NORDSCI Conference proceedings 2022, Book 2

Economics and Tourism

EUROPEAN INVESTMENT BANK GROUP’S REACTION TO THE ECONOMIC CRISIS CAUSED BY COVID-19

Chief Assist. Prof. Dr. Aglika Kanev

ABSTRACT

This paper is devoted to the European Investment Bank Group’s measures for limiting the negative effects of the COVID-19 pandemic on the economies of the European Union Member States. The repurposing by the European Investment Bank of part of its existing mandates and own resources to support existing and new operations in need of financing to mitigate the impact of the crisis has been studied. The European Investment Fund and European Investment Bank additional budgets and enhanced terms for several of their existing mandates with the European Commission have been analyzed. The Pan-European Guarantee Fund established by the European Investment Bank Group and several EU Member States has been presented. Indicators have been analyzed assessing the effectiveness of the European Investment Bank Group response to the COVID-19 crisis. Conclusions from the analysis of the results of the actions taken by the European Investment Bank in response to the economic crisis caused by the COVID-19 pandemic have been drawn. Recommendations have been made to improve the EIB's measures to limit the negative effects of the COVID-19 pandemic on the European economy.

KEYWORDS

European Investment Bank, European Investment Fund, Covid-19 crisis, Pan-European Guarantee Fund

REFERENCE

NORDSCI Conference proceedings 2022, Book 2,Volume 5, ISSN 2603-4107, ISBN 978-619-7495-30-0, DOI paper 10.32008/NORDSCI2022/B2/V5/07, Pages 85 - 94 pp