By the end of 2020, the European Investment Bank (EIB) had invested €6 billion using the pan-European guarantee fund set up to support companies affected by the Covid-19 pandemic and, in the first half of 2021, this safety net, or ‘backstop’, should reach €50 billion.
During the presentation of the bank’s annual results on Wednesday 20 January, Werner Hoyer, President of the EIB said: “Of course, it took a little time to make it operational”, but this off-balance sheet...