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EIB approves new financing totalling EUR 7.8 billion

Staff Writer |
At its first meeting of 2017 earlier today the Board of Directors of the European Investment Bank (EIB) approved more than EUR 7.8 billion of new financing.

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EIB is to support investment in strategic infrastructure, innovation and more efficient use of natural resources, as well as backing more than EUR 3.1 billion of new support for small business investment.

The board meeting followed detailed discussions between EIB board members and representatives of more than 105 civil society organisations, business associations and think tanks from across Europe.

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.

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