The Board of Directors of the European Investment Bank approved more than EUR 7.3 billion of new loans for investment in strategic infrastructure, the environmental and knowledge economy as well as private sector schemes. 18 of these loans, worth EUR 2.8 billion will be backed by the European Fund for Strategic Investments.
New support for strategic infrastructure totalling EUR 2.2 billion included backing for upgrading road links in Lithuania and Poland, new passenger trains for use in the UK, Belgium, Germany and the Ukraine and new schools across Ireland. Reflecting the EIB Group’s strong engagement to support private sector investment new lending programmes with local banks and financial institutions in Austria, Denmark, Finland, Sweden, Germany, France, Spain, Portugal, Slovenia and Croatia, as well as Malta, were approved.
The EIB Board approved the principle of extending the duration of EFSI beyond the previous three-year horizon, as proposed by the European Commission on 13 September; This could entail an increase in the bank’s guarantee that will accompany an increase in the EU Budget guarantee and enable an extension of EFSI-backed financing by both the European Investment Bank and European Investment Fund. The European Fund for Strategic Investments, one of the three pillars of the EU’s Investment Plan for Europe that currently aims to unlock EUR 315 billion of new investment, is part of the EIB Group.
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