Easy to read In May 2020, the EIB Group created European Guarantee Fund (EGF) in response to COVID-19. The €24.4 billion fund has enabled the EIB Group – in partnership with local lenders and national promotional institutions – to scale up its support to small and medium-sized entreprises (SMEs), and others in the real economy by mobilising up to €200 billion.
The EIB Group also developed a financing package for bridging loans, credit holidays and other measures designed to alleviate liquidity and working capital constraints for SMEs and mid-caps. The EIB Group, including the European Investment Fund, worked with financial intermediaries in the EU Member States and in partnership with national promotional banks.
The EIB Group has supported healthcare-related projects around the world since 1997. Due to the COVID-19 pandemic, financing has been considerably higher in recent years. In 2022, the EIB provided €5.1 billion for health and life sciences projects that benefitted around 980 million people worldwide. The EIF has also committed €400 million to funds in support of the health sector.
EIB Global has been at the forefront of the European external action response to the COVID-19 pandemic.
With the aim of slowing the virus's spread, we joined forces with the World Health Organization to support a €400 million package of emergency supplies, including personal protective equipment for low- and middle-income countries. Meanwhile, EIB funding to the GAVI vaccine alliance is expected to support the vaccination of more than 830 million people against COVID-19 and other diseases.
We also joined the EU-led global Pledging Conference, contributing €4.9 billion in partnership with the European Commission to end the pandemic.
In the wake of the pandemic, EIB Global is increasing assistance to developing countries in building up their health systems and reducing their dependence on imported healthcare supplies.
EIB Global has also continued its enhanced support to small and medium-sized firms around the world to help them cope with the effects of the pandemic, thereby sustaining employment.
Our support at a glance
€47.8 bn
EIB-financed projects
299
Projects in Europe
68
Projects around the world
Does This Change Everything?
Our lives have changed with the coronavirus crisis. But what areas of our lives will be altered forever? Our experts examine the implications of the coronavirus crisis for sectors from education and digitalisation to urban mobility and medicine
