The Board of Directors of the European Investment Bank approved new financing for small and medium companies (SMEs), education, energy and social housing, as well as water, transport and healthcare schemes across Europe and around the world. Funding approved totalled EUR 3.4 billion. “Later this month Europe will mark the anniversary of the Treaty of Rome which created the European Investment Bank. Sixty years on the work of the
EIB is more necessary and beneficial than ever. The variety of projects approved today demonstrates our Group’s continued engagement to improve lives, enhance cohesion and foster investment and innovation.” 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 21 different projects.
Backing environmental, education and agricultural investment around the world. The Board approved financing for 6 schemes located outside the European Union. These include water projects in Panama and Argentina, upgrading agricultural production in Ukraine, renovating public building and homes in Moldova to improve energy efficiency, and the construction of a new university campus in Morocco.
Financing smaller infrastructure schemes and small business with local partners. Thousands of smaller companies in Portugal, Italy, Bolivia and East Africa will benefit from EUR 1.34 billion lending approved today for distribution by EIB partner banks and institutions in local markets.
The EIB Board approved EUR 260 million funding for specialist funds and small scale projects which will enable new investment in small scale renewable energy, energy efficiency, broadband, transport and water projects across Europe.
Backing was also given to schemes to cut energy use in buildings in Germany, Spain and Moldova and increase capacity of hydropower plans and windfarms in Austria.
This week’s meeting follows a session of the Investment Committee for the European Fund for Strategic Investments, held on 7th March. The EIB Board approved 5 projects which the Investment Committee had cleared for financing under the Investment Plan for Europe guarantee from the EU Budget.