Slovakia promises aid with Economic Resilience Initiative

The European Investment Bank (EIB) announced on Tuesday that the first five EU member states, including Slovakia, have pledged to spend resources to tackle the problem of migration and job creation within the program titled the Economic Resilience Initiative. According to information published, Slovakia has pledged €2 million. In comparison, Luxembourg has pledged €0.4 million, Poland €50 million, Slovenia €0.5 million and Italy €45 million to the program. The Luxembourg-based EIB will thus increase investment in the European Southern Neighborhood (Algeria, Egypt, Israel, Jordan, Lebanon, Libya, Morocco, Palestine, Syria and Tunisia) and the Western Balkan region by €6 billion between 2016 and 2020, with €7.5 billion having been earmarked so far. By providing jobs and investment opportunities in these areas, the ERI is to be one of the tools used to find solutions to the root causes of migration.