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EIB approves record investment with EUR 6 billion for SMEs

Staff Writer |
The European Investment Bank (EIB) approved financing for investment by small business totalling more than EUR 6.1 billion and a record level of new financing under the Investment Plan for Europe initiative.

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The EIB’s Board of Directors approved more than EUR 15 billion of new lending agreed for projects across Europe and around the world.

The EIB board approved more than EUR 3 billion of new climate related investment including scaling up use of floating windfarms off the Portuguese coast, helping Czech companies to improve energy efficiency, mitigating flood risks in Italy, supporting small scale renewables in Turkey and large scale solar power plants in India, as well as improving efficient water use in drought stricken Malawi.

New projects will also support climate change mitigation investment in Brazil and small scale energy efficiency improvements in North Africa and the Middle East.

Over the past five years the EIB provided over EUR 90bn in financing for mitigation and adaptation to climate change in Europe and across the world.

The EIB approved new lending for a total of 21 schemes supported by the EU budget guarantee under the Investment Plan for Europe, for a total of over EUR 4.5 billion of new financing.

These included lending for SMEs through local banks, support for corporate research and development, improved energy infrastructure, and expansion of broadband internet networks. Financing under the Investment Plan for Europe approved today will support public and private investment in 17 European countries.

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