EIB to get €10bn capital injection
All 27 EU member state shareholders back lending increase
The European Investment Bank is set for a €10bn capital increase, which will be fully paid in.
The 27 EU member states that are shareholders in the institution unanimously approved the injection, which will allow the EIB to provide up to €60bn in additional lending over a three-year period for viable schemes.
EIB president Werner Hoyer said: “The unanimous decision by the governors to strengthen the bank’s capital base and enable an additional €60bn of increased lending demonstrates a shared desire to support investment that will create jobs and contribute to economic growth in Europe.”
The move to increase the bank’s lending activity was tabled by the European Council last June. The additional capital to be paid in by each shareholder will reflect their current shareholding. The cash will target four priority sectors and be dedicated to supporting innovation and skills, SMEs, clean energy and modern infrastructure.
The new financing will be in addition to the €50bn regular annual lending the EIB receives.
Image: EIB president Werner Hoyer (Committee of the Regions / Tim De Backer)