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General publications

Vienna Initiative


The Vienna Initiative was launched in January 2009. Its initial aim was to ensure financial stability in emerging Europe, addressing the outflow of capital from local subsidiaries of large cross-border banks in central and south-eastern Europe. It later shifted its focus to the challenges of reducing non-performing loans and monitoring deleveraging, credit and bank lending.

The private-public dialogue under the Vienna Initiative has contributed to the stability of the banking sectors of central and eastern Europe. Close coordination through the Vienna Initiative is particularly valuable at a time of heightened economic and financial uncertainty.

The international financial institutions involved in the Vienna Initiative publish regular market analyses, including twice-yearly Non-Performing Loan Monitors prepared by the EBRD. The IMF publishes the six-monthly Deleveraging and Credit Monitor, while the EIB publishes the Bank Lending Survey.


24 MARCH 2023
Press release: Vienna Initiative forum on bank coordination held in Skopje
Vienna Initiative takes stock of pandemic crisis and (re)focuses on new risks
28 MARCH 2019
Vienna Initiative press release: Vienna Initiative, 10 years on, makes case for deeper financial integration in emerging Europe
21 DECEMBER 2018
Press release: 5th meeting of the sub-group in Vienna - December 2018
13 MARCH 2018
Vienna Initiative press release: Vienna Initiative seeks new growth model to drive forward innovation in emerging Europe
11 MAY 2017
Vienna Initiative press release: Improved outlook for bank lending in emerging Europe as funding conditions stabilize and stocks of bad loans fall, new Vienna Initiative reports show.