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The macroeconomic impact of the 2023 EIB Group financing

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Abstract

The European Investment Bank (EIB) is the lending arm of the European Union (EU). It finances investment contributing to EU policy goals. In 2023, the EIB Group signed new financing contracts for close to €88 billion, supporting over €280 billion of total investment in support of EU policy priorities in the EU27 economies. Every year, policy simulations are carried out using the RHOMOLO-EIB Computable General Equilibrium (CGE) model in order to assess the macroeconomic effects of the EIB Group operations. Starting from January 2024, the model has been updated to a new base year (García Rodríguez et al., 2023). This Policy Insight contains the result of the January 2024 simulations quantifying the estimated macroeconomic impact on EU GDP and employment of the EIB Group- supported operations approved in 2023. The EIB Group is contributing significantly to job creation and growth. The EIB-JRC estimates suggest that, by 2027, it will create almost 1.5 million jobs (780,000 by 2042), with a positive contribution to GDP of +1.03% (+0.74% by 2042) over the baseline. The impact stems from the demand-side effects of the investment, as well as from the associated structural effects on GDP growth.

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  • Tryfonas Christou & Abian Garcia Rodriguez & Nicholas Lazarou & Simone Salotti & Georg Weiers, 2024. "The macroeconomic impact of the 2023 EIB Group financing," JRC Research Reports JRC138096, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc138096
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    Keywords

    rhomolo; region; growth; eib;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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