European Union Solvency Support Instrument to restart the European economy after COVID-19
The European Commission has launched the Solvency Support Instrument (SSI), which builds on the existing European Fund for Strategic Investments (EFSI) in order to kick-start the European economy by overcoming the severe socio-economic consequences of the COVID-19 pandemic. The Solvency Support Instrument will help match the recapitalisation needs of otherwise healthy companies across Europe, which are at risk because of the economic instability posed by the COVID-19 pandemic. The instrument will work via an European Union guarantee package provided to the European Investment Bank (EIB) Group. The EIB Group will use this guarantee to provide financing directly or invest, fund or guarantee equity funds, special purpose vehicles, investment platforms or national promotional banks. It will help such companies in this critical time get back to a sustainable and profitable business track. This instrument will also focus on the EU priorities of the green and digital transitions, and on supporting cross-border economic activities.
To read the full article, please click here. © European Union, 1995-2020.