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EIB backs EUR 7 billion support for new projects around the world

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Meeting at the EIB’s headquarters in Luxembourg, representatives of the EIB’s shareholders, the 28 EU member states and the European Commission, also discussed the EIB’s emergency response to the refugee crisis. Reflecting the unique focus to support investment across Europe and around the world, in Africa, Asia, Latin America, more than EUR 1 billion of the projects approved are outside the European Union. New support for SME investment included approval in principle for a new export funding platform expected to operate in 8 European cou... Read More »

EIB sets new 35% target for climate lending in developing countries

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Speaking at a meeting of finance Ministers and multilateral financial institutions at the IMF - World Bank annual meetings in Lima, Werner Hoyer confirmed that the European Investment Bank will increase climate lending in countries identified by the UNFCCC and the OECD as being especially vulnerable to the adverse impacts of climate change. “The EU Bank will provide well over USD 110 billion for climate action projects around the world over the next 5 years. We must do all we can to unlock new investment in countries especially vulnerable to... Read More »

EIB and World Bank join forces with new agreement to support Ukraine

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The agreement was signed today by EIB President Werner Hoyer and World Bank Group President Jim Yong Kim. The EIB will guarantee up to USD 520 million of selected World Bank loans in Ukraine, which will enable the World Bank to guarantee letter of credit facilities for gas purchases by Naftogaz. Today's agreement was facilitated by a counter-guarantee of the European Union granting comprehensive cover to the EIB linked to risks of these selected WB loans in Ukraine. EIB President Werner Hoyer commented: “European and global institutions are ... Read More »

EIB fosters high-speed mobile broadband services in Finland and Estonia

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The large-scale rollout of 4th generation Long-Term Evolution (4G/LTE) mobile networks will enable high-speed mobile broadband services to be provided to more people, particularly in rural and remote areas in Finland and Estonia. This adds to the current 97% population coverage for 4G services. Elisa’s modernisation investments supported by the EIB will also strengthen transmission networks to cope with increasing data traffic and improve the overall quality of service. Thanks to the deployment of more efficient multi-service nodes, overall CO2... Read More »

EIB joins forces with İlbank for green municipal funding in Turkey

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The agreement was signed today in a public ceremony in Istanbul in the presence of Mr. İdris Güllüce, Minister of Environment and Urbanization of the Republic of Turkey, Mr. Ahmet Genç, Deputy Undersecretary at the Undersecretariat of Treasury, Mr. Fuat Gedik, Chairman of the Board of Directors at İlbank, Mr. Mehmet Turgut Dedeoğlu, Director General of İlbank and Mr. Pim van Ballekom, Vice-President at the EIB. EIB Vice President Pim van Ballekom stated on the occasion: “Financing green municipal projects is a priority for the EU bank. Envir... Read More »

EIB agrees EUR 17 billion of new loans and approves new climate lending strategy

environment

The European Investment Bank also gave its support to a new climate action lending strategy, to strengthen the impact of its engagement for climate related investment and renewable energy. The EIB Climate Action strategy consolidates the target of ensuring that at least 25% of its lending supports climate related investment. This financing leverages and sustains growing investment from the private sector in support of the transition to a low-carbon economy. The strategy also addresses the need to invest in projects aimed at adapting to climate ... Read More »

Oxford University to benefit from largest ever EIB university loan

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The 30 year loan from the world’s largest internationally owned public bank will be used alongside other sources of financing, including grants and philanthropic donations, towards the University’s plans to replace and upgrade existing buildings across Oxford including the Radcliffe Observatory Quarter and to expand the Old Road Campus on the former Park Hospital site. The money has been allocated both to planned buildings and projects that have already been completed. The new EIB support was announced during a visit to Oxford University by ... Read More »

EIB, World Bank Group, and EBRD exceed financing targets for Central and South Eastern Europe

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More than 770 projects supported Substantial impact on Central and South Eastern Europe (CESEE) Institutions present final report on “Joint IFI Action Plan for Growth” The European Investment Bank Group (EIB), the World Bank Group*, and the European Bank for Reconstruction and Development (EBRD) have met and even exceeded their commitments to make available at least EUR 30 billion in 2013 and 2014 to sustain growth and investment in Central and South Eastern Europe (CESEE)** following the global financial crisis. Actual assistance prov... Read More »

EIB backs development of more energy-efficient household goods by Electrolux

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The EIB loan will enable the company to develop innovative household goods that will consume less electricity and use fewer resources, such as raw materials in production or water during operation. Moreover, the research activities aim to increase the use of recycled materials in the production of kitchen and laundry products, which will also have improved end-of-life recyclability. The new household goods will ensure a better performance and comply with EU legislation on energy labelling and eco design, meeting tougher standards in terms of en... Read More »

EIB supports Bavarian Nordic’s development of Ebola and cancer vaccines

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EIB Vice-President Jonathan Taylor stated: “We are pleased to be partnering with Bavarian Nordic in this breakthrough operation, as it enables the EU bank to address the high unmet medical need caused by a pandemic such as Ebola. The European Investment Bank sends a clear signal that the international community cannot abandon West Africa at this time of need and must continue to demonstrate firm engagement. We are also delighted that we are supporting the first market entry of a European company into the cancer treatment vaccine arena. Projects... Read More »

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