!! History Commons Alert, Exciting News
Profile: European Investment Bank (EIB)
European Investment Bank (EIB) was a participant or observer in the following events:
The European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the World Bank pledge to invest €24.5 billion in countries such as Latvia and Hungary that have been hit by the global economic slump. In a joint statement, the three groups announce that the two-year joint initiative will include equity and debt financing, and access to credit and risk insurance aimed at encouraging lending, on top of the countries’ national government responses. The bailout is designed to “deploy rapid, large-scale and coordinated financial assistance… to support lending to the real economy through private banking groups, in particular to small-and medium-sized enterprises.… The response takes into account the different macroeconomic circumstances in, and financial pressures on countries in Eastern Europe, acknowledging the diversity of challenges stemming from the global financial retrenchment,” the groups add. The EBRD was founded in 1991 to assist the transition of former communist nations to market economies—investing across 30 countries including Ukraine, Moldova, and Russia. “The institutions are working together to find practical, efficient and timely solutions to the crisis in eastern Europe,” says EBRD President Thomas Mirow. [BBC, 2/27/2009]
Receive weekly email updates summarizing what contributors have added to the History Commons database
Developing and maintaining this site is very labor intensive. If you find it useful, please give us a hand and donate what you can.
If you would like to help us with this effort, please contact us. We need help with programming (Java, JDO, mysql, and xml), design, networking, and publicity. If you want to contribute information to this site, click the register link at the top of the page, and start contributing.