EU bank funded record 901 projects last year

BRUSSELS, Jan 18 (KUNA) -- The European Investment Bank (EIB) said Thursday that it approved a record number of 901 projects in 2017, including over 100 projects outside Europe, to support small and medium-sized companies, protecting the environment and helping to build crucial infrastructure.
The EIB provided 78.16 billion euros (USD 95.66 billion) to help deliver on EU policy goals in Europe and worldwide, EIB President President Werner Hoyer told his annual press conference in Brussels today.
"The EU bank remains committed to international and multilateral cooperation. No-one is stronger alone. In an interconnected world, it is absurd to think that we can achieve success in delivering global development and prosperity if we don't work together," he said.
The focus areas of its investment outside the EU are climate change and economic resilience. In 2017, it invested 19 billion euros (USD 23 billion) for this cause.
"Since its establishment in 1958 the EU bank, which celebrates its 60th anniversary this year, has invested over one trillion euros (USD 1.2 trillion) based on a cash contribution by the Member States of just 14 billion euros (USD 17.1 billion)," Hoyer said.
The EIB is not only the biggest multilateral lender, but also the biggest multilateral borrower worldwide. The Bank successfully raised 56.4 billion euros (USD 69 billion) from investors around the world last year, he noted.
Hoyer said they are also active in Palestine in funding projects.
He noted that demand for British projects has gone down after the Brexit referendum which he described a "most terrible and painful decision that has negative effects on both sides." Speaking to KUNA on the sidelines of the conference, Eila Kreivi, head of the capital markets at the EIB, said investors from the Gulf region have also invested in the EU bank but she would not give more details.
The Luxembourg-based EIB is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for investment in order to contribute towards EU policy goals. (end) nk.mt