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Monday, November 18, 2019

European Investment Bank's loan boosts crucial investments in Ireland

The European Investment Bank supplied more than $873.3 million last year for investments that will improve crucial services and open up new economic opportunities in Ireland.

“I would like to welcome the involvement that the European Investment Bank has had in Ireland in recent years and in particular during 2016, which saw the EIB provide continued financial support to key projects at a very high level," Michael Noonan, minister for finance, said. "This strengthened EIB engagement reflects the many opportunities for responsible investment in the Irish economy. The consistent growth in Ireland’s economy and elevated levels of business confidence provide a compelling basis for investment in our evolving economic and social infrastructure."

Hundreds of schools will be boosted by EIB's support. Last year, $370.5 million was lent to upgrade old buildings and construct new facilities at primary schools and higher-learning institutions.

“Strengthened support for crucial investment across Ireland by the European Investment Bank during 2016 reflects the importance of unlocking investment essential for sustainable economic recovery and represented one to the strongest ever years of EIB engagement in the country," Andrew McDowell, European Investment Bank vice president, said.

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European Investment Bank

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