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OWFs supported by EIB's €17 billion

By: Tom Russell 23/09/2015 EIB

General

The EIB, Europe’s long-term lending institution, approved today more than EUR 17 billion of new loans to support investment in telecommunications, water infrastructure, renewable energy, roads, schools and hospitals, and backed lending for small business investment across Europe and around the world.

The EIB Board approved support for strategic infrastructure investment totalling nearly EUR 7 billion. This includes new offshore windfarms off the UK and Belgian coasts. EIB’s website includes the following wind farms under its "projects to be financed" page :Galloper, Beatrice and Neart na Gaoithe offshore wind farms in the UK, and Noblewind in Belgium.

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 meeting of representatives of the EIB’s shareholders, the 28 EU member states, and the European Commission, took place in the historic Ridderzaal, in the Binnenhof parliamentary buildings in the Hague.The EIB Board meets outside Luxembourg once a year in the country that will next hold the European Union presidency.

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OWFs supported by EIB's €17 billion

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