European Investment Bank outlines $3.1bn in funding

The European Investment Bank (EIB) has outlined $3.1bn of funding for various projects across the globe.

The EIB’s largest single project is a 19km extension of the Stockholm metro (pictured) costing $788m that will add 11 underground stations.

$500m will be spent on construction of a 200km long expressway in Poland, while up to $500m will go towards climate change related projects, mainly in the water and energy sectors, in France and Germany.

$455m will be split between two renewable energy projects: an off-shore wind farm project in the UK and an electricity biomass generation plant in Spain.

$350m will go towards an upgrade of Dublin airport’s infrastructure including the construction of a parallel taxiway and the improvement of aircraft parking stands.

Modernisation, and extension of a regional hospital in the Netherlands will cost $150m.

Funding worth $150m will be used to generate clean and renewable energy in Brazil and Mexico, in accordance with UN Sustainable Development Goals.

$128m will be spent on construction of a new hospital and backing for a company to provide nursing homes and day care in Finland.

Five public hospitals in Austria have been awarded $100m for modernisation, rehabilitation and consolidation, while another $100m was approved for construction of near zero energy buildings in Copenhagen, Denmark.

$95m will go towards the development of the Luiss Rome University Campus in Italy.

18 trains will be bought for Tunisia’s Tunis Goulette Marsa suburban line costing $45m.

Werner Hoyer, EIB President, said: “Projects approved today strengthen the EU Bank’s action in the fields of energy efficiency, social infrastructure and the support for SMEs.

“Initiatives backed by the EU Budget guarantee under the Investment Plan for Europe and approved today have taken us closer to the Plan’s original EUR 315 billion investment target.

“The use of EU resources to back loans and guarantees is working: we are getting investment back on track in the European Union.”

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