[en] • The EIB’s response to the COVID-19 crisis consisted only of small changes to its existing operations, both regarding its total lending and lending to the health sector.
• Through the European Guarantee Fund, the EIB mobilised €187 billion of additional investments.
• To protect its credit rating, the Bank eschewed riskier operations and sought financial guarantees.
• The EIB’s reliance on the financial sector to transmit its policy had drawbacks both for the control of the use of funds and for transparency.
• Whereas other EU institutions implemented significant new policies in response to the pandemic, the EIB’s business model limited the Bank’s ability to adapt to an unprecedented shock.
Disciplines :
Political science, public administration & international relations
Author, co-author :
SPIELBERGER, Lukas ; University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Social Sciences (DSOC) > Political Science
Language :
English
Title :
Staying the course : The EIB's reluctant COVID-19 response
