The European Investment Bank (EIB), the European Union (EU)’s bank, has invested over EUR 162 billion across Europe and around the world, more than half the EUR 315 billion target set for the end of 2018, after it approved more than EUR 10.5 billion of new financing.
“After little over a year since the start of the Investment Plan for Europe, we have financed projects that will mobilize well over 50% of the additional investment the plan is supposed to generate in three years,” said Werner Hoyer, EIB President. Most of the investment focused on strengthening innovation and research across Europe, reducing energy use and improving energy infrastructure, ensuring European SMEs’ expansion.
The EIB confirmed its role as the largest multilateral borrower and lender by volume contributing to furthering EU policy objectives. Most recently, the EIB financed the EUR 120 million acquisition of 22 new underground trains and the railway security upgrade of the Rotterdam (Netherlands) underground network and the EUR 50 million expansion of Sint-Lucas hospital in Ghent (Belgium).