EIB invests 5bn to support medical technology and health research – Health Europa

Posted: Published on May 1st, 2020

This post was added by Alex Diaz-Granados

The European Investment Bank has approved 5bn of new financing for businesses hit by the economic shock and for medical technology.

The financing is part of the EIBs quick response to the coronavirus crisis and its economic effects. It includes 3bn dedicated for companies in Italy and Spain, two countries most impacted by the coronavirus.

As well as backing medical technology and innovation, the EIB Board also agreed measures making it possible to extend existing EIB loans in view of the economic impact of the coronavirus crisis, up to a total of 5bn. This builds upon the rapid response package identified on 16 March, 2020.

Werner Hoyer, President of the European Investment Bank, said: Investment to mitigate the economic, health and social impact of the coronavirus crisis is now a priority for the EU Bank, one that we have embraced swiftly and vigorously in cooperation with other EU institutions.

We continued to prioritise support for companies and entities worst hit by the crisis, specifically small companies and medical innovation. We also agreed to ensure a rapid response by expanding financing available to existing clients.

The Board approved a 75m equity investment into the German company Curevac, to support research to mitigate the health impact of coronavirus.

This support is part of the scaled-up efforts to finance additional research to fight coronavirus through the EIBs dedicated Infectious Disease Financing Facility, with more operations expected in the coming weeks.

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EIB invests 5bn to support medical technology and health research - Health Europa

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