New investment for strategic infrastructure across Europe and around the world, including road, rail, ports, inland waterways, and airports, were amongst nearly EUR 10 billion of new lending approved this week by the Board of Europe’s long-term lending institution, the European Investment Bank. Financing was agreed, subject to final negotiation, for a total of 45 projects, including 5 schemes expected to get support from the EU budget guarantee under the European Fund for Strategic Investments (EFSI).
EIB President Werner Hoyer, European Commission President Jean-Claude Juncker and Vice President Jyrki Katainen signed a series of technical agreements between the EIB and European Commission which complete the formal establishment of the European Fund for Strategic Investments (EFSI) and the European Investment Advisory Hub. EFSI is a joint initiative of the Commission and the EIB and an integral part of the Commission’s Investment Plan for Europe. Set up within the EIB, EFSI will manage a guarantee from the EU budget of EUR 16 billion and an EIB contribution of EUR 5 billion to leverage private and public investment of EUR 315 billion over the next 3 years.
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