EIB approves 6 billion euro backing for business, transport, health and housing investment

Hospital patients in France and the Netherlands, commuters in Poland, Spain, France and India, and energy consumers in Bulgaria, Greece and the Gambia will all benefit from investment in new projects approved by the European Investment Bank.

At their monthly meeting in Luxembourg on Tuesday (Nov 13th) the Board of the European Investment Bank (EIB) agreed EUR 6 billion of new financing for business, transport, health and social housing investment across Europe and Africa.

“Projects approved at today’s board meeting demonstrate the EU Bank’s fruitful cooperation with financing partners around the world. A number of these partners will join us at our headquarters in Luxembourg later this week for the first ever EIB Donors conference. We will discuss how to bundle our resources and expertise to tackle global challenges like climate change and migration.” said Werner Hoyer, President of the European Investment Bank.

Supporting access to finance for business is a top priority for the EIB Group. Today’s board meeting approved EUR 3.9 billion for direct and indirect financing for companies in Austria, Denmark, Finland, France, Greece, Italy, Poland, Romania, Spain, farmers in Kenya and entrepreneurs in Lebanon and Tunisia.

This includes the provision of new credit lines with local financial partners to support investment by farms and enterprises in Spain, innovation focused firms in France and climate related investment by companies in Poland. 

In Italy, three new financing programmes were approved. They will help to finance energy efficiency and environmental protection measures by business, health and education investment by companies and public entities, and address a specific financing gap hindering growth of agricultural and tourism companies.

Reflecting its commitment to support private sector investment outside Europe, the EIB also agreed to strengthen economic resilience in Lebanon through new credit lines with local intermediaries. It also supports a new initiative to enable increased renewable energy and energy efficiency investment by companies in Tunisia and provides venture capital for the expansion of innovative high-growth companies across Africa.

The EIB Board approved nearly EUR 1.3 billion for new transport projects that will improve access, address local congestion and create sustainable transport alternatives.

The EIB also agreed to support the construction of two metro lines and rolling stock in the Western Indian city of Pune, a project that is expected to provide sustainable urban transport for more than 480,000 passengers a day once operational. 

Other transport schemes to be backed by the EIB include upgrading rail access to Barcelona airport, widening 81km of a key road link in southern Poland and the rehabilitation of rolling stock on regional railways in France.

Hospital patients in the Netherlands will benefit from the modernisation and expansion of existing facilities in Utrecht, including the replacement of outdated buildings, the construction of new operating theatres and the construction of a new primary care centre.

Public health infrastructure across France profits from a four-year healthcare financing programme backed by the EIB. 

The EIB’s first ever support for energy investment in the Gambia will finance on- and off-grid solar power and battery storage for rural health clinics, schools and food manufacturing.

The Board also approved financing to reinforce strategic energy connections between Bulgaria and Greece and energy security in Slovakia.   

Financing for 11 projects approved by the EIB board today will be guaranteed by the European Fund for Strategic Investments and are expected to mobilize an estimated EUR 4.8 billion of total investment. 

There were no PPP projects approved by the meeting.The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

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Martin Banks

Martin Banks

Martin Banks is a highly qualified journalist with many years experience of working within the EU institutions. He is an occasional, and highly valued, contributor to EU today, writing on a wide variety of issues.

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