eib lends mediterranean countries €14bn in 2015
Last Updated : GMT 07:25:12
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Last Updated : GMT 07:25:12
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EIB lends Mediterranean countries €1.4bn in 2015

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Arab Today, arab today EIB lends Mediterranean countries €1.4bn in 2015

European investment bank lends Mediterranean countries
Luxembourg - MENA

The European Investment Bank said it lent EUR 7.8 billion outside Europe, including EUR 1.4 billion to south Mediterranean countries, including Egypt.

In a statement, The EIBank Group, the world’s largest multilateral financial institution, announced record lending in 2015, totaling EUR 84.5 billion, that will support investment in crucial infrastructure and improve access to finance across Europe and around the world. This included record support for investment by SMEs and unprecedented lending for innovation and climate related projects by the EIB Group.

The statement, a copy of which was obtained by MENA, said that "during 2015, the EIB Group – the European Investment Bank and the European Investment Fund – provided EUR 7.5 billion of new financing backed by the Investment Plan for Europe guarantee from the EU budget. This financing supported total investment worth more than EUR 50 billion, or approximately 16% of the final target of EUR 315 billion to be triggered by the Investment Plan for Europe over three years".

"In September, the EIB launched the European Investment Advisory Hub, another pillar of the Investment Plan for Europe. The Hub helps projects attract funding from all available sources. In 2015 the Hub managed requests for advice from across the EU.

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