EIB - new financing for infrastructure, innovation and research
The European Investment Bank approved more than 7,8 billion of euros to support investment in strategic infrastructure, innovation and more efficient use of natural resources.
Reflecting the EIB’s commitment to support innovation and world-class research new financing was agreed for semiconductor research and development and production of a new generation of semiconductors in Germany, innovation to improve the nutritional benefits of dairy products in Denmark and construction of an ultramodern, environmentally compatible silicon metal production plant in Iceland.
The EIB board approved new support for construction and refurbishment of schools in Finland, refurbishment of the National University of Ireland Galway Campus, complete redevelopment of a hospital in the Italian city of Treviso, and social housing in the United Kingdom and the Netherlands. More than EUR 2.6 billion of new financing for strategic infrastructure was approved. This includes support for new investment to enable 70% of Italian households to access broadband wireless communications, financing for upgrading congested international road links across Poland and rural transport infrastructure in central Spain. The EIB board also backed financing for the new Blankenburg motorway tunnel to improve road access to the Europe’s largest port in Rotterdam.
Two new loans totalling EUR 550 million were also agreed to finance expansion of Orly airport in Paris and to cater for the expected increase in passengers travelling through Amsterdam Schiphol airport. New support for renewable energy including backing construction of a 650 MW wind farm in Sweden as well as eight windfarms and two solar photovoltaic plants expected to generate 181 MW of green energy in France. Financing for a fleet of natural gas powered buses in Mallorca, upgrading wastewater treatment across Flanders and a new transmission link to a windfarm off the UK coast was also supported.
The EIB is also expected to increase equity participation in two infrastructure funds focusing on the Baltic states and energy, transport and social projects in the Nordic region. A proposal to jointly finance medium sized energy-efficiency and renewable energy projects in conjunction with an Italian national promotional bank was also approved.
Proposed new financing for small scale flood protection initiatives and urban investment in the Netherlands and small scale leasing for companies in Germany was also agreed.
The EIB board also backed support for water investment in Bangladesh to strengthen supply of clean drinking water for the 14 million people living in Dhaka, one of the fastest growing cities in the world. Proposed support for a new bridge over the Senegal River and support for small business investment in Egypt was also agreed.
New support for 14 projects, representing more EUR 2 billion of new EIB lending, is expected to be supported by the guarantee under the Investment Plan for Europe. This includes financing for new investment in education, innovation, roads, communications and renewable energy. New lending backed by the joint EIB-European Commission guarantee will support investment in eight EU member states.
The EIB approved financing for four public private partnership projects in Italy, Finland, Poland and the Netherlands. The EIB Board of Directors includes representatives of the bank’s 28 EU member state shareholders, as well as the European Commission.