The European Investment Bank's (EIB) board has approved $12.1 billion in financing for 43 new projects that support housing, innovation and energy for projects in and beyond Europe.
“The EIB continues to deliver for Europe’s citizens, mobilizing new investment to enhance economic opportunities," said EIB president Werner Hoyer said in a bank press release. "Financial projects approved today will support construction of new homes for thousands of families and allow high-speed internet access in towns and rural areas across Europe."
Sixteen of the projects will be supported by the Investment Plan for Europe. It is expected that the EIB Group, via the Investment Plan for Europe, will finance more than $216.5 billion in projects collectively across all of the EU member states.
This newest round of financing will be used to support trains in Austria; housing projects in Spain, France and Poland; innovation for renewable-energy projects and distribution in France, Italy and Portugal; plus high-speed internet access for areas of France and Sweden.
“The Investment Plan for Europe is progressing at a good pace," Hoyer said. "Thanks to the EU budget guarantee, the EIB and the EIF are financing investment in new sectors, working with new clients and promoters, and catalyzing private investment. I warmly welcome the vote of the economic affairs committee of the European Parliament yesterday to extend the Investment Plan for Europe. This is a clear endorsement of the plan’s impact and benefit. The EU shows its resolve to address the investment gap and support investment for as long as it takes.”