European Stability Mechanism,update

 

ESM and EIB sign Memorandum of Understanding 24 January 2025 ESM Press Release no. 1/2025 The European Stability Mechanism (ESM) and the European Investment Bank (EIB) signed today a Memorandum of Understanding (MoU). Its overall aim is to further strengthen and enhance the bilateral partnership and collaboration between both institutions, and to develop, consolidate, and define their mutual cooperation.  “The Memorandum of Understanding signed today opens a new chapter in our collaborative framework. It builds upon the ongoing partnership since the early days of the EFSF in 2010, when the EIB provided valuable support in setting up our operations. The EIB is a close peer in many respects, and we look forward to deepening our successful cooperation. As fellow Luxembourg-based institutions, we should capitalise on our proximity to work closely together in supporting economic resilience and growth in Europe,” said ESM Managing Director Pierre Gramegna.   “The EIB and the ESM are formidable instruments supporting Europe’s economic security and future prosperity. They enjoy unparalleled status in global capital markets, highlighting the strength of joining forces, and complement the combined firepower of the members of our Union. We are delighted to formalise our longstanding partnership with this Memorandum of Understanding,” said EIB Group President Nadia Calviño. The MoU lists three areas of potential collaboration between the ESM and the EIB: i) strategic and operational dialogue and cooperation - including exchange of information and sharing of knowledge; ii) the organisation of joint events; and iii) staff exchanges. The Memorandum of Understanding enhances the existing collaboration between the ESM (and previously the EFSF) and the EIB, which was initially formalised through a Service Level Agreement in 2010 and further strengthened by a Cooperation Agreement in 2013. The MoU is signed for the initial period of five years, with a possibility for a further extension.

Media Enquiries       Cédric Crelo Head of Communications and Chief Spokesperson Phone: +352 260 962 205 c.crelo@esm.europa.eu Anabela Reis Deputy Head of Communications and Deputy Chief Spokesperson Phone: +352 260 962 551 a.reis@esm.europa.eu     Juliana Dahl Principal Speechwriter and Principal Spokesperson Phone: +352 260 962 654 j.dahl@esm.europa.eu Phone:       About the ESM     The European Stability Mechanism (ESM) has the mandate to preserve financial stability in the euro area by providing financial assistance to Member States with severe financing problems. It is a permanent inter-governmental institution, operating since October 2012. The shareholders of the ESM are the 20 euro area Member States. All financial assistance to Member States is linked to appropriate conditionality. The ESM finances its assistance by issuing bonds and other debt instruments. It has a total subscribed capital of approximately €700 billion, which comprises €80 billion in paid-in capital and €624 billion in committed callable capital. The ESM’s maximum lending capacity is €500 billion.