European Investment Bank (EIB) has approved EUR 4.3 billion of new support for business, education, energy, health and transport schemes.
Meeting in Luxembourg, the Board of the European Investment Bank approved a total of EUR 4.3 billion of new financing for 20 projects located across the Europe, and around the world.
Following Board approval the EIB will finalise financing for new business investment, transport, health, energy, education and telecom infrastructure.
This includes backing low-energy replacement of smart street lighting on 2,700km of Belgian roads, upgrading medical education in Poland and new hospital facilities in Finland.
“New investment to upgrade clean energy, sustainable transport, healthcare and communications is essential to improve lives and strengthen economic activity. The impressive range of schemes approved today demonstrates the EU Bank’s unique global engagement and technical expertise supporting the competitiveness of the Union and contributing to tackle global challenges.” said Werner Hoyer, President of the European Investment Bank.
EUR 3 billion new financing to strengthen private sector investment
New EIB lending programmes and financing initiatives totalling EUR 3 billion to support private sector investment were approved by the Board.
These includes financing for new business investment with local partners in Greece, Italy and Poland. Small business financing schemes outside Europe will be supported in Turkey and Egypt were also approved.
Research and development investment by companies in France, Germany, Italy and Spain will also be financed through direct corporate lending.
Unlocking new investment in sustainable transport
The EIB is expected to provide EUR 575 million for new transport investment. This includes backing investment in low energy lighting for Belgian roads and financing two motorways in south-eastern Spain.
Improving health and hospital infrastructure
Two health projects totalling EUR 327 million were approved by the EIB Board. These include construction of a new medical simulation centre at Poznan Medical University in Poland and renovation and extension of hospital buildings in Helsinki.
Improving clean energy generation and distribution
The Board approved EUR 303 million of new financing for energy investment in Hungary, France and central Asia. This includes support for construction of six new biogas plants and rehabilitation of the Kairakkum hydropower plant in Tajikistan, operational since 1957.
Investment Plan for Europe
Financing totalling EUR 837 million for 7 different schemes backed by the Investment Plan for Europe, and guaranteed by the European Fund for Strategic Investments, was approved by the EIB board.
EFSI projects include energy efficiency investment in Belgium, corporate research and development in Germany, Greece, France and Spain, and support for investment by entrepreneurs in Poland.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.