The European Investment Bank, the world’s largest international public bank, will strengthen support for priority investment in Ireland in the coming months. Details were confirmed during a visit to Dublin by EIB Vice Presidents Andrew McDowell and Jonathan Taylor who discussed the impact of recent financing and future strategic investment in Ireland with Irish ministers.
New initiatives to enhance access to finance by companies most vulnerable to Brexit, improve financing for affordable housing and stimulate future climate action investment in renewable energy and energy efficiency in public and private buildings were agreed by the EIB-Ireland Financing Group meeting at the Department of Finance in Dublin earlier today.
“The EIB has a unique track record supporting crucial investment across Ireland. Today’s discussions between Ministerial colleagues and the EIB will ensure that Ireland benefits even more from the EIB’s unique technical experience and financial strength in the months and years ahead. New initiatives to assist companies most exposed to Brexit uncertainty, harness renewable energy resources, such as offshore wind, cut energy bills in public buildings and private homes and increase equity financing demonstrate the close partnership between Ireland and the EIB.” said Paschal Donohoe, Finance Minister, and EIB Governor.
“Strengthened cooperation between the EIB and Irish partners has enabled EUR 330 million of new financing for crucial new investment across the country to be agreed already this year. This has supported higher education at Grangegorman, renewable energy in Mayo, private sector innovation in Galway and the largest ever ferry on the Irish Sea. New financing totalling EUR 1.8 billion has been approved and backing for broadband, social housing, energy and airport investment being concluded. Today’s detailed discussions will ensure that the EIB’s unique understanding of sector challenges and market gaps can benefit future investment to tackle climate change, increase affordable housing and help Irish companies most at risk from Brexit.” said Andrew McDowell, European Investment Bank Vice President responsible for lending operations in Ireland.
Original source: EIB
Published on 19 July 2018
