EIB crisis package

Details of the EIB package

Dedicated guarantee schemes to banks based on existing programmes for immediate deployment, mobilising up to EUR 20 billion of financing
Dedicated liquidity lines to banks to ensure additional working capital support for SMEs and mid-caps of EUR 10 billion
Dedicated asset-backed securities (ABS) purchasing programmes to allow banks to transfer risk on portfolios of SME loans, mobilising another EUR 10 billion of support
- Yet to understand whether these are overlapping with the purchasing programmes launched by ECB
It seems that EUR 20bn will be in guarantees;
and EUR 20bn in accelerating and repurposing of planned EIB projects and transactions

The package will be deployed in three stages according to the EIB:

First, we will launch dedicated guarantee schemes to banks based on existing programmes for immediate deployment, mobilising up to €20 billion of financing by them to support the businesses in need.
Second, we would accelerate and repurpose our multi-beneficiary intermediated lending facilities and other framework loans so that banks across Europe could specifically come to the aid of impacted businesses. This would amount to €5 billion of EIB financing, which we expect to mobilize €10 billion to those companies.
Third, we plan to reprioritize some EFSI resources to make working capital available to those who need it the most through the purchase of €2 billion worth of asset-backed securities from banks. This allows banks to transfer risk of existing SME loans to the EIB, freeing up capital to give out new loans. This should also mobilize €10 billion.

Infographics & factsheets

covid19-eib-group-response-infographics-en.pdf

Sources