“As part of the EIB Group, the EU’s financing arm, the EIF has committed more than €9bn to the European economy in pursuit of public policy goals, and made a significant contribution to strengthening our strategic autonomy in key industries in the course of 2022. This is a prerequisite to defend our security, freedom and way of life going forward.”
Gelsomina Vigliotti
Chair of the Board, EIB Vice-President
Coming right after the pandemic, the war in Ukraine brought additional uncertainties impacting the economy, our businesses and people, creating many challenges which needed to be alleviated by public interventions, including the financing provided by the EIB Group.
While the extent of the consequences of the multitude of recent crises might not yet be fully known, the efficient implementation of European and national investment programmes will be fundamental in increasing confidence levels going forward. The EIB Group stands ready with its expertise and financing to support these actions which aim at stimulating employment, investing in education, skills and innovation, enhancing connectivity, boosting productivity, amplifying sustainability efforts and positive climate impact and improving competitiveness.
As part of the EIB Group, the EU’s financing arm, the EIF has committed more than €9bn to the European economy in pursuit of public policy goals, and made a significant contribution to strengthening our strategic autonomy in key industries in the course of 2022. This is a prerequisite to defend our security, freedom and way of life going forward. By supporting small businesses, individuals, but also climate and infrastructure projects, the EIF ensures that important public policy objectives are attained.
At the same time, the EIF is undergoing its own transition towards a strong thematic orientation and is now well-placed to make an even greater contribution going forward. Through the close cooperation between the EIF and the EIB, we have been able to collectively deliver on our strategic objectives, most notably the recovery efforts in response to the economic shocks, but also the numerous thematic targets that have been identified in alignment with EU policy goals, in particular under the InvestEU mandate, namely competitiveness and growth, innovation and digitalisation, social impact, skills and human capital and sustainability and the green transformation. These are the goals that will guide our work going forward.
Looking ahead, faced with inflationary pressures, persistent supply chain disruptions, climate change and energy security concerns, the EIF’s role becomes even more important in improving access to finance, including through new initiatives like REPowerEU and the ETCI.
Finally, I would like to thank all EIF partners and stakeholders in travelling the 2022 journey together with us and I am very much looking forward to continued fruitful collaboration in 2023. I am confident that the organisation has the expertise and competence to deliver in the pursuit of its strategic objectives and look forward to working with its new management team to realise our ambitions.
“The €97bn that will be mobilised through the EIF’s 2022 activity will reach not only businesses that are struggling with the multitude of challenges and economic shocks that we are all facing, but also those innovative entrepreneurs, the champions that are shaping tomorrow. And it will serve to nurture the financing ecosystem in sectors and geographies where access to finance is lacking.”
Marjut Falkstedt
Chief Executive
In a difficult year for the European economy, the EIF has made every effort to make crucial financial support more accessible for small businesses, individuals, and climate and infrastructure projects across the European continent.
The €97bn that will be mobilised through the EIF’s 2022 activity will reach not only businesses that are struggling with the multitude of challenges and economic shocks that we are all facing, but also those innovative entrepreneurs, the champions that are shaping tomorrow. And it will serve to nurture the financing ecosystem in sectors and geographies where access to finance is lacking.
This would not have been possible without the steadfast dedication of Alain, my predecessor, Roger, and the hard-working team behind them, to whom I am very grateful. With its public policy orientation firmly in place, and another solid performance under its belt, the EIF can look ahead with optimism and execute its mandates in confidence.
Our mission in supporting businesses in their growth, in nurturing innovation in key sectors that contribute to Europe’s strategic autonomy and competitiveness, in market-building, and in driving the transition to a greener, digital, and inclusive future is one that drives me with passion. And to be able to complement this with climate and infrastructure equity investments reinforces our role and expertise as an equity financier. It is both an honour and an opportunity to return to the EIF and lead it during these turbulent but exciting economic times. We are well-positioned, with in-house expertise, close policy alignment with the EU, the EIB and national capitals, and an extensive network of partners in the markets that ensure that our work has far-reaching impact.
Building on the work already done, the EIF must remain operationally sharp and agile in the face of increasing complexity, adapting to a changing world around us, constantly finding new ways to channel public resources effectively to where they are needed most, and attract private resources in the pursuit of our public policy goals, from innovation and digitalisation to social impact, competitiveness, growth, cohesion and of course, first and foremost, climate action and environmental sustainability. While diversity is already very much part of the EIF’s strategy, allowing us to address access to finance across the various growth stages in the business lifecycle, gender lens investment aspects will help us in developing further sustainable solutions for the economy.
The intensity, breadth and depth of the EIF’s activity in 2022 is our inspiration and benchmark going into 2023, and I am very much looking forward to working with the team and the Board of Directors to deliver on our goals and ultimately achieve real impact on the ground.
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