The new vice-president of the European Investment Bank, Jonathan Taylor, expects the bank to make €600 million in low-cost loans to projects and companies in Ireland this year.
Mr Taylor and senior officials from the EU-controlled bank are in Dublin for a series of meetings, with the hope they can drum up interest in the bank's loans. The team from the Luxembourg-based EIB are today meeting separately with the three main economics ministers, Michael Noonan, Brendan Howlin and Richard Bruton
Officials from the EIB are also holding talks with the National Asset Management Agency (NAMA) and the banks, as well as with representatives from the private sector. Last year the EIB loaned €505 million to projects in Ireland, mainly working with state-owned companies. That included financing schools construction, energy and water infrastructure, and working with AIB and Bank of Ireland to boost lending to small and medium enterprises (SMEs).
Mr Taylor said his agency was in Ireland seeking more lending opportunities with the public and private sectors. The EIB can lend to any borrower if the project involved meets the agency's criteria, including promoting growth, he said.
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