EIB OKs EUR 7.3 B for Investment in Europe

The European Investment Bank (EIB) has said it has approved EUR 7.3 B in loans for investment across Europe and around the world.

At a meeting in Malta's capital Valetta, its Board of Directors gave the green light for the funding to be allocated to strategic infrastructure, the environmental and knowledge economy as well as private sector schemes.

Of these loans, eighteen, to the tune of EUR 2.8 B will be backed by the European Fund for Strategic Investments (EFSI). The financing will be for 47 new projects.

Some EUR 2.2 B will be allocated for the upgrade of railroad infrastructure in Lithuania and Poland, new passenger trains for use in the UK, Belgium, Germany and Ukraine and new schools across Ireland.

Some EUR 40 M will be earmarked for new support or social housing and private investment in Malta itself.

The EFSI, part of the EIB group, is one of the three pillars of the EU investment plant - known as the "Juncker plan" - that is aimed at unlocking EUR 315 B in new investment across Europe.

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