EIF
European Investment Fund 2021 Annual Report
I had the pleasure to illustrate the European Investment Fund 2021 Annual Report.
The European Investment Fund (EIF), established in 1994, is a financial institution for the provision of finance to SMEs (small and medium-sized enterprises), headquartered in Luxembourg. It is part of the European Investment Bank Group.
Each of the following illustrations open a specific chapter in the report.
Annual Report Cover Artwork
Financial Statements Cover Artwork
Spot illustrations
Recovery
While the economic fall-out of the pandemic turned out to be less severe than initially anticipated, the consequences for the European economy were nevertheless dramatic, on the back of the worst economic contraction since World War II. Temporary national schemes were successful in preventing massive worker layoffs and widespread insolvency waves, but the risk of insolvencies remains very real, as some countries and sectors experienced a sharp increase in the number of corporate bankruptcies, with SMEs particularly exposed.
Sustainability & Green Transformation
Climate change is the defining challenge of our generation. The urgency for action has never been greater. To make it to net zero and dial back emissions we need to spark transformative and innovative solutions while also accompanying traditional businesses as they seek to navigate the green transition and make their operations more environmentally sustainable.
Social impact, Skills & Human Capital
Europe’s greatest asset is its human capital. Investing in our people is absolutely paramount if we are to rise to the challenges we face collectively. This is why the EIF has been developing, in conjunction with our partners at the EC, instruments that target human capital.
Innovation & Digitalisation
The world is changing at an unprecedented pace, driven by the relentless pace of technological advancement. Innovation and disruption are defining our lives today as much as they will tomorrow.
The EIF has continued to channel resources in the direction of early-stage investments in innovative businesses. This has focused on new frontiers like artificial intelligence/blockchain (AI/BT) and the space industry as much as it has on the more traditional but highly innovative field of life sciences.
Competitiveness & Growth
As the economy rebounds from last year’s contraction, our intention is to make every effort to boost the competitiveness of European businesses locally, and the European economy globally. Throughout 2021, we have channelled growth financing to European entrepreneurs and SMEs, fuelling the recovery and helping them keep up with the pace.
Looking Ahead
2022 will see the launch of InvestEU and a decisive shift towards thematic investments. It will also be a year in which we expect to continue to grow our private fund-raising arm, attracting more private resources to serve public policy objectives alongside good returns.
Spot illustrations
Some spot illustrations used throughout the report to represent abstract data representation
