The European Investment Bank has approved, on October 18, a EUR 1.8 billion of new financing for 8 new rail and road transport projects. This includes support for rail and road network modernisation in Poland, new trams in the Rhine-Neckar conurbation and new intercity rolling stock for use on routes between Paris and the Normandy coast.
New financing for congested urban roads in Tunisia was also approved, supporting construction of 8 new road junctions in the city of Sfax.
Under the Investment Plan for Europe, the bank has approved the financing for eleven projects to support overall investment totaling EUR 1.6 billion in fifteen EU countries. The approvals included support for research and development in Bulgaria, Germany, France and Denmark as well as financing for transport and social infrastructure in Poland.
These approvals are part of a EUR 4.7 billion package financing for 30 projects across Europe and around the world that will help to finance urban reconstruction, including housing and public buildings, as well as financing to small companies and agricultural businesses impacted by recent natural disasters. Other approved operations included backing for road and rail transport, renewable energy and electricity interconnectors, industrial innovation, healthcare, education and off-grid solar energy.
“We continue to observe an investment drought in the European economy hurting the future competitiveness of the continent, and market gaps in long-term financing opportunities available. The new projects approved today continue EIB’s contribution towards filling those gaps, to supporting sustainable investment across Europe and around the world,” Werner Hoyer, President of the European Investment Bank said.
Among loan agreements for transport projects in Europe, this month, EIB has granted Adif Alta Velocidad a EUR 600 million loan for the construction of a new high-speed rail line between Vitoria, Bilbao and San Sebastián, and to convert the conventional line between San Sebastián and the French border (around 17 km long) for mixed use (conventional and high-speed). To the Société du Grand Paris the bank announced a second EUR 1 billion financing agreement for Line 15 South of the Grand Paris Express.
Photo: Rhein-Neckar-Verkehr GmbH
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