EIB to invest €5.8bn in 29 projects in EU, Africa and Latin America

WCN Editorial Team 17 Apr 2018 GLOBAL BUILDINGS

The board of the European Investment Bank (EIB) has approved €5.8bn of new financing for 29 projects in the European Union (EU), Africa and Latin America.

The bank will now finalise financing for new investment in energy, telecommunications, transport, urban development projects and business lending programmes, including €1.4bn for the metro extension in Stockholm and the acquisition of trains in the Italian Lombardy region.

The EIB board has approved €987m financing for nine projects. This will be backed by the Investment Plan for Europe and support overall investment totalling €7bn.

The projects include extension of the Stockholm metro; high-speed telecommunications network in Ireland; hospital in the Netherlands; renewable energy projects in Spain and the UK; and support for small and medium-sized companies in Greece, France and Spain.

The EIB board approved €1.7bn investment in new transport to improve mobility and accessibility in Europe.

This includes €788m support for three extensions of the Stockholm metro with a total length of 19.6km and 11 underground stations; acquisition of 161 new trains in Italy; €350m for upgrading the Dublin airport; construction of a 200km expressway in Poland with €500m; and acquisition of 18 trains for the Tunis Goulette Marsa suburban line in Tunisia with €45m.

An electricity biomass generation plant in Spain and an off-shore wind farm project in the UK will together get funding of €455m.

Furthermore, the bank will provide €500m for climate action-related projects, mainly in the water and wastewater and energy sectors in France and Germany.

The board approved €150m funding for clean, renewable energy generation in Brazil and Mexico.

Research and development projects in the food, pharmaceutical, chemical and marine sectors in France, Germany, Italy, the Netherlands and Denmark will receive €230m funding.

The board also decided to provide €95m to support the 2016-2020 investment plan for the development of the Luiss Rome University Campus in Italy.

The EIB will provide €150m for the development plan of a regional hospital in the Netherlands; €128m for the construction of a new hospital and backing for a company providing nursing homes and day care in Finland; and €100m for the modernisation, rehabilitation and consolidation of five public hospitals in Austria.

The EIB board also agreed to provide €500m for the roll-out of a high-speed telecommunications network to cover up to 542,000 households in Ireland; and €100m for the construction of six near-zero energy buildings in the Copenhagen Metropolitan Area, Denmark.

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