Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
Luxembourg : EIB Group to contribute €1.7 billion to the EU`s Covid-19 response package for the Western Balkans
Publish Date : 08-May-2020
The European Investment Bank (EIB) Group will provide €1.7 billion to support the social and economic recovery of the Western Balkans from the COVID-19 pandemic.
This is part of the €3.3 billion financial support package for the region announced on 29 April by the European Commission and follows the Team Europe efforts to support the Western Balkans.
National healthcare sectors and small and medium-sized enterprises in the region will be the immediate beneficiaries of the EU’s support package, which is also designed to strengthen the national banking sectors and provide technical assistance to realise development projects and stimulate much-needed investments.
To ease the health, social and economic impacts of the pandemic, the EIB will provide new financing and accelerate signatures and disbursements of approved loans to private and public sector clients in the Western Balkans, with some €600 million earmarked for the private sector.
Werner Hoyer, President of the EIB, said: “Despite the immense challenges created by the COVID-19 crisis within the EU itself, the Union has shown its unwavering support for its partner countries and its commitment to international cooperation and coordination. The immense needs in the region can only be addressed by a team effort and EIB looks forward to contributing to the Western Balkans Investment Framework and the forthcoming Economic and Investment Plan for Recovery.â€
The set of EIB emergency measures for the Western Balkans includes:
the approval of dedicated new financing with more flexible terms and extended eligibilities in support of the healthcare sector and SMEs and mid-caps affected by the pandemic;
the acceleration of disbursements and signature of existing transactions;
the re-purposing of existing facilities to support healthcare and the private sector;
the increase of the available EIB financing under a “COVID TopUpâ€;
extended eligibilities for healthcare and civil protection projects promoted by the public sector in line with their established national strategies for Pandemic and Emergency Preparedness.
The level of support required by the region is immense and requires the cooperation of all actors, the countries of the region, the EU institutions, international and European financial institutions and EU Member States. The EIB Group is committed to continuing its good cooperation with all partners in the Western Balkans, including through platforms such as the Western Balkans Investment Framework (WBIF).
On top of this immediate support package, the EIB continues to is build up a pipeline of projects, currently estimated at €2.3 billion, to support the long-term sustainable development of the region based on its capacity to offer affordable, long-term financing and technical assistance in the Western Balkans.
In line with EU policy and national priorities, the EIB will support projects enabling the region’s transition to environmentally friendly energy generation, digitalisation, better connectivity, job creation and youth employment, environmental protection and resilience to natural disasters while promoting regional cooperation and economic integration.
