EIB approves new financing totalling EUR 7.8 billion

At its first meeting of 2017 earlier today the Board of Directors of the European Investment Bank approved more than EUR 7.8 billion of new financing to support investment in strategic infrastructure, innovation and more efficient use of natural resources, as well as backing more than EUR 3.1 billion of new support for small business investment.

Image: EIBImage: EIB

“Without innovation, Europe will not become and remain competitive. Today the EIB has approved new financing to support development of next generation semiconductors in Germany, innovation to strengthen the nutritional benefits of dairy products in Denmark and upgrading university research in Ireland. The EU Bank is committed to unlocking investment in world class project such as these that build on Europe’s research and innovation strengths.” confirmed Werner Hoyer, President of the European Investment Bank.

The board meeting followed detailed discussions between EIB board members and representatives of more than 105 civil society organisations, business associations and think tanks from across Europe.

“Close cooperation with civil society helps increase the EIB Group’s impact. It helps us work better. It reflects our responsibilities as a publically owned bank. My EIB colleagues and EIB Board members welcome the scope and depth of discussion such as the one we had yesterday.” added Werner Hoyer.

Renewable energy and environmental investment

New support for renewable energy including backing construction of a 650 MW wind farm in Sweden as well as eight windfarms and two solar photovoltaic plants expected to generate 181 MW of green energy in France. Financing for a fleet of natural gas powered buses in Mallorca, upgrading wastewater treatment across Flanders and a new transmission link to a windfarm off the UK coast was also supported.

New EIB lending under the Investment Plan for Europe

New support for 14 projects, representing more EUR 2 billion of new EIB lending, is expected to be supported by the guarantee under the Investment Plan for Europe. This includes financing for new investment in education, innovation, roads, communications and renewable energy. New lending backed by the joint EIB-European Commission guarantee will support investment in eight EU member states.

The EIB approved financing for four public private partnership projects in Italy, Finland, Poland and the Netherlands.

The EIB Board of Directors includes representatives of the bank’s 28 EU member state shareholders, as well as the European Commission.

EIB, finances, Europe, EU

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