003 Economics. Economic conditions. Economic doctrines and systemshttps://ketlib.lib.unipi.gr/xmlui/handle/ket/1352024-03-29T00:33:52Z2024-03-29T00:33:52ZThe effect of EIB operations on private sector lending outside the European UnionPresbitero, Andrea F.Gatti, MatteoGorea (, Denishttps://ketlib.lib.unipi.gr/xmlui/handle/ket/39702023-06-22T00:05:35Z2023-06-14T00:00:00ZThe effect of EIB operations on private sector lending outside the European Union
Presbitero, Andrea F.; Gatti, Matteo; Gorea (, Denis
Does an increase in lending by multinational development banks affect the private lending
activity in developing countries? We show that this is indeed the case using data on loans and
investments by the European Investment Bank (EIB) in combination with data on syndicated loans.
We find that a pronounced increase in EIB operations is followed by a surge in the number and
volumes of syndicate loans in countries outside the European Union. Our results suggest that
multinational banks can incentivize private sector lending by playing an important role in signaling
to private markets that borrowers in emerging and developing countries are safe.
JEL Classification Numbers: F21, F34, H81; The effect of EIB operations on private sector lending outside the European Union+ Matteo Gatti * Denis Gorea∆ Andrea F. Presbitero # June 2023 Abstract: Does an increase in lending by multinational development banks affect the private lending activity in developing countries? We show that this is indeed the case using data on loans and investments by the European Investment Bank (EIB) in combination with data on syndicated loans. We find that a pronounced increase in EIB operations is followed by a surge in the number and volumes of syndicate loans in countries outside the European Union. Our results suggest that multinational banks can incentivize private sector lending by playing an important role in signaling to private markets that borrowers in emerging and developing countries are safe. JEL Classification Numbers: F21, F34, H81 Keywords: European Investment Bank, Financial assistance, Financial conditions, Public and private lending, Syndicated loans *EIB, m.gatti@eib.org; ∆ EIB, d.gorea@eib.org; # IMF and CEPR, apresbitero@imf.org + We thank Frank Betz and Emily Sinnott for helpful suggestions. The views expressed here are those of the authors and should not be attributed to the European Investment Bank or the International Monetary Fund, their Executive Boards, or their management.; DOI: 10.2867/455760
2023-06-14T00:00:00ZThe European Fund for Strategic Investments: the legacyEuropean Investment Bankhttps://ketlib.lib.unipi.gr/xmlui/handle/ket/39302023-04-01T00:05:32Z2021-01-29T00:00:00ZThe European Fund for Strategic Investments: the legacy
European Investment Bank
The architects of this €500 billion-plus programme, the head of the EU bank and the president of the European Commission, describe the genesis of this financial pillar of the Investment Plan for Europe. Then the people who ran one of the biggest economic stimulus programmes in history detail how they did it—and what the lessons are for policymakers responding to new crises, including the economic shock caused by the COVID-19 pandemic.
The European Fund for Strategic Investments has been one of the good news stories to emerge in a decade of economic uncertainty. It has gone well beyond its highly ambitious target of €500 billion in mobilised investments. The Juncker Plan has made a strong contribution to the 14 million jobs created in the EU between 2015 and 2020. It has become a success in co-financing projects that otherwise might not have been carried through. It has also charted the path towards new ways of financing. This is not only the case in relatively conventional areas, such as infrastructure, but also in sectors like research and innovation or the contribution to climate change mitigation. This is exactly what makes EFSI so ground-breaking: responding to the needs of the market through continuous financial innovation.
The principle of the European Fund for Strategic Investments is here to stay. It has paved the way for its successor, the InvestEU programme, which is to be deployed under the 2021-2027 multiannual financial framework. This publication details why the programme was such a success.
DOI: 10.2867/279140; The story of the European Fund for Strategic Investments (EFSI) from 2015 to 2020 told through interviews with the Managing Director, Deputy Managing Director, members of the Investment Committee and final beneficiaries across Europe; The EIB uses paper certified by the Forest Stewardship Council (FSC). Because it’s made by people who like trees. FSC promotes environmentally sound, socially beneficial, and economically viable management of the world’s forests
2021-01-29T00:00:00ZOn Inequality.Bending, Tessahttps://ketlib.lib.unipi.gr/xmlui/handle/ket/39292023-04-01T00:05:42Z2021-03-18T00:00:00ZOn Inequality.
Bending, Tessa
Does Europe have an inequality problem? Amid the COVID-19 pandemic, many Europeans are certainly struggling. The rise of populist movements is another signal that something is awry. Many Europeans no longer see their economy as fair. But is this a problem of too much inequality, or just a problem of ideology? Is inequality even a bad thing? We need to consider the statistics on economic inequality, but also look beyond towards the lived experience of trying to make ends meet. We need to consider different ideas on the impact and significance of the inequality we see.
Does inequality drive entrepreneurship, and thus innovation, through the struggle for upward social mobility? Or does inequality affect life chances, becoming entrenched, blocking social mobility and innovation?
And does anyone really need a billion euros? If we have a euro to spare, do we create more happiness by giving it to the rich or to the poor? An old, once infamous, now oft-forgotten question in economics.
Tessa Bending conducts research on social inclusion, social development and impact measurement at the Economics Department of the European Investment Bank (EIB). The department provides indepth analysis on critical investment issues to support international policy debates.
This is the sixteenth essay in the Big Ideas series created by the European Investment Bank. The EIB has invited international thought leaders and experts to write about the most important issues of the day. These essays are a reminder that we need new thinking to protect the environment, promote equality and improve people’s lives around the globe.
doi: 10.2867/765820; QH-03-21-083-EN-N; eBook: QH-03-21-083-EN-E
2021-03-18T00:00:00ZRecovery and resilience scoreboard. SME Support.European Commissionhttps://ketlib.lib.unipi.gr/xmlui/handle/ket/39182023-02-17T01:05:29Z2022-01-01T00:00:00ZRecovery and resilience scoreboard. SME Support.
European Commission
Small and medium-sized enterprises (SMEs) are the backbone of Europe's economy, representing 99% of all
businesses in the EU, employing two thirds of the EU workforce and accounting for more than half of value added. They are
adding value in every sector of the economy, from services to manufacturing, and innovation activity, and are central to the
EU’s twin transitions toward a sustainable and digital economy.
RECOVERY AND RESILIENCE SCOREBOARD Thematic analysis SME Support This paper is part of a series of thematic analysis undertaken by the European Commission to illustrate the impact of the Recovery and Resilience Facility (RRF). The RRF is the European Union’s largest ever funding instrument and is intended to support European economies and societies to recover from the Covid-19 pandemic and build resilience against future shocks. EU Member States commit to implement ambitious reforms and investments and receive funds from the RRF when they achieve these commitments.
2022-01-01T00:00:00Z