EIB Board approves EUR 8.4bn of new investment

EIB Board approves EUR 8.4bn of new investment

The Board of the European Investment Bank (EIB) agreed EUR 8.4 billion of new financing. This includes support for new investment across Europe and around the world to improve sustainable transport, clean energy, social housing, telecommunications and water infrastructure.

The EIB also approved EUR 3 billion of new support for business investment through both direct financing and credit lines with local banks.

“Improving sustainable transport and strengthening clean energy are key investment priorities to enable Europe’s sustainable transition to a “net-zero” emissions economy. In recent weeks political leaders have called on the EIB to build on the EU Bank’s unique experience to accelerate investment to support green and sustainable development. The range of projects approved and strategic issues discussed demonstrate our firm commitment to helping address these challenges in the years ahead and especially to support the EU’s climate action agenda and the “New European Green Deal” envisaged by Ursula von der Leyen incoming President of the European Commission.” said Werner Hoyer, President of the European Investment Bank.

Eleven projects approved by the EIB board will be guaranteed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Juncker plan.

Original source: EIB
Published on 15 October 2019