European Investment Bank (EIB) Approved New Project Financing Totalling EUR 12.4 Billion

EIB Board Backs EUR 12 Billion Of New Investment Including Transformational New Transport, Energy And Internet Schemes

500 Euro Banknoten

The board of the European Investment Bank approved new financing totalling EUR 12.4 billion today. This includes support for rail, road, air and maritime transport investment around the world and backing for new renewable energy and security of energy supply schemes. New PPP financing for tram, motorway and internet investment was also agreed.

“The EU Bank is supporting new investment in sustainable transport, renewable energy and helping small companies harness business opportunities. The impressive range of new projects approved by the European Investment bank today will improve business opportunities, ensure better access to clean water, green energy, internet and mobile banking, health and education, and upgrade transport for millions of people across Europe and around the world.” said Werner Hoyer, President of the European Investment Bank.

Meeting at the European Investment Bank headquarters in Luxembourg representatives of the bank’s 28 EU member state shareholders, as well as the European Commission, approved new financing for 63 different projects.

Improving urban, regional and international transport connections

The board gave the green light for EUR 5 billion of new financing for 14 transport projects.

This includes EUR 1.5 billion for the new Line 15 of the Paris Metro and EUR 500 million for construction and new rolling stock for a new line on the Bangalore metro in India, as well as backing for new investment in urban rail projects in Liege, Hannover, Bremen and Tunis and improvement of port facilities in Hamburg.

Furthermore the board approved financing for new road and motorway schemes in Germany, the Netherlands, Latvia, and Bosnia, alongside backing for a new HGV electronic toll system in Slovenia. It also agreed to EUR 546 million for the renewal of aircraft fleets operating regional routes by KLM and Air Nostrum.

Supporting transformational energy investment

The EIB board approved EUR 4.3 billion of new financing for energy projects.

These include onshore wind, hydropower and smart meter projects in Italy, energy efficiency, solar, wind and district heating projects in France, reinforcement and extension of natural gas distribution in Ireland and Spain, and financing of renewable energy and energy efficiency in India.

Improving global water infrastructure

Reflecting the European Investment Bank’s commitment to improve water infrastructure the Board gave the green light for  a total of more than EUR 1 billion financing for projects in Portugal, Italy, Spain, Egypt and Morocco.

Ensuring access to high-speed internet and improving communication

New support for EUR 480 million of investment in broadband infrastructure networks in four  French and German regions was agreed, as well as support for mobile banking in Ethiopia and upgrading mobile networks in the French overseas department of Reunion and Mayotte.

Backing long-term investment to improve education, housing and healthcare

New investment in this area includes the improvement of education and research facilities at the Catholic University of Louvain in Belgium, the development of a regional hospital in Breda and the provision of affordable housing on brownfield sites in Belgium, France and Poland.

Helping small businesses expand and harness new opportunities

New financing for small and medium sized companies totalling EUR 2 billion will support investment by companies in Austria, Croatia, Greece, Poland, Spain and Germany, as well as Serbia and Paraguay.

This includes new intermediated lending programmes with local banks, support for leasing financing, backing for equity investment in technology firms and dedicated youth employment and climate related investment.

Strengthening industrial investment

The board agreed to direct financing for EUR 506 million of industrial investment that will support the expansion of research and development of next generation animal health treatment in France and automotive glass manufacturing in Morocco.

[Source: European Investment Bank -/- Media Relations]
[Photo Credits: inserted by openeyesopinion.com credits embedded]

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