About
The Economic Resilience Initiative Fund (ERI) Fund aims to support resilient and inclusive growth in Europe’s Southern Neighbourhood and the Western Balkans. Donor contributions help unlock investments that can create new opportunities in the regions, especially for vulnerable groups, including young people and women. The ERI Fund presents an opportunity for Donors, in particular EU Member States, to leverage the full range of instruments, networks and expertise at the EIB’s disposal to maximise the development impact of our collective finance in the affected regions and to work towards achieving the UN Sustainable Development Goals. The ERI Fund was established under the EIB-managed Partnerships Platform for Funds.
At a glance
ERI Fund contributors are making a difference to projects in the EU's Southern Neighbourhood and the Western Balkans.
Donor funds committed
Donor financing approved
Operations
Total investments supported
Our donors
Pledges to the ERI Fund have been made by 9 donors:
Expected impact
Over 70 000 jobs sustained and over 30 000 loans made in favour of micro and small businesses
Better sanitation services for 740 000 people and safe drinking water for 465 000 people
65,000 people benefitting from improved urban infrastructure and services
In focus
EU social finance boosts jobs for vulnerable people in Serbia
Finding a job is never without its difficulties, but some people encounter additional barriers when trying to access employment or financial resources.
The European Investment Bank, the European Union’s financing arm, worked with UniCredit Bank Serbia to understand these barriers, leadership opportunities and access to finance – and to develop solutions.
As a result, in 2020, the EIB launched an innovative €30 million social impact financing scheme for small and medium-sized enterprises (SMEs) in Serbia that support and promote the employment, entrepreneurship and leadership of women, young people, and vulnerable social groups.
Sustainable Development Goals
Donor-financed operations through our trust funds make a direct contribution to several of the UN’s Sustainable Development Goals (SDGs). Our collective actions unlock billions of euros in investment to combat climate change, eradicate poverty and fight inequality. These are some of the global goals targeted by our trust fund.
Economic Resilience Initiative
The ERI Fund was created as part of the Economic Resilience Initiative, which was requested by the 28 EU Member States in 2016 as part of the joined-up response by the EU to the challenges posed by forced displacement and migration resulting from the war in Syria.
ERI’s ambition was to support public and private investment with high social and economic returns in order to help tackle the numerous challenges in Europe’s Southern Neighbourhood and the Western Balkans. ERI focused on long-term, sustainable solutions that are crucial for stable development in countries that are prone to shocks.
The ERI Fund remains open and active and Donor contributions are important to support the Economic Resilience of its beneficiary countries.
Donor-funded instrument
ERI Fund donor contributions provide additional support to ERI operations in the form of investment grants or through financial instruments. These are used to provide concessional financing to facilitate investment in vital infrastructure and support higher risk or lower financial return investments with the potential to achieve enhanced social and economic impact.
Geographical scope
Countries eligible for ERI Fund funding:
* The EIB will start operating in Libya once it has signed a Framework Agreement with the country. Following EU sanctions in November 2011, the EIB suspended all loan disbursements and technical advisory contracts for projects in Syria.
** This designation shall not be construed as recognition of a State of Palestine and is without prejudice to the individual positions of the Member States on this issue.
*** This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence. Hereafter referred to as Kosovo.
Key publications
Trust funds in action
Resources for development finance are limited. Find out how EIB Global works with 12 trust funds to increase amounts available, support a wide variety of projects and make a positive impact.
ERI Fund overview
This flyer provides an overview of the trust fund's activities in 2023.