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Description of the initiative / best practice
Launched in 2016, ERI is part of the European Union’s response to the challenges in the Southern Neighbourhood and Western Balkans, such as forced displacement and migration, economic downturns, political crises, droughts and flooding. ERI creates jobs and economic growth in the region by investing in key infrastructure and in private sector development. It also may help migration flows. It offers a package of loans and innovative financial products, while blending funds from the donor community with EIB financing. The initiative is implemented in close cooperation with EU countries, the European Commission and other partners. Bulgaria, Croatia, Italy, Lithuania, Luxembourg, Poland, Slovakia, Slovenia and the United Kingdom were the first countries to contribute to ERI.