28 February 2013

EIB to increase lending for growth and jobs in Europe

This follows the Member States’ 2012 decision to increase the EIB’s paid-in capital by €10 billion. Werner Hoyer, EIB President, commented: “Last year the EIB has delivered on changing its course fundamentally from a programmed cyclical to a countercyclical course. We are now prepared to deliver on boosting our lending activities by 40 per cent per year from 2013-2015 and thus making an extraordinary effort in theses exceptional times for Europe. The EU Bank will be making a significant and tangible contribution to overcoming the current crisis.”

It is expected that the additional EIB lending will initiate projects worth up to €180 billion including private and public investments, focusing on innovation, SME´s access to finance, resource efficiency and strategic infrastructure. President Hoyer stated: “Investing in innovation and skills is crucial for Europe’s productivity and will help secure competitiveness and jobs in the future".

During 2012, the EIB signed €52.2 billion of new loans in over 60 countries. €44.8 billion were provided for projects within the European Union and €7.4 billion outside. In response to the tough economic challenges facing certain EU countries, the EIB provided targeted support for key growth and employment drivers, in particular SMEs. Support for small and medium-sized enterprises reached €13 billion. More than 200,000 SMEs received direct or indirect support through the EIB Group’s activity in 2012. The European Investment Fund (EIF), the EIB Group’s specialist arm which provides risk financing to the benefit of SMEs, achieved a record volume of equity commitments of €1.4 billion which catalysed over €7 billion from further investors.

“In 2013, the EIB Group will strive to expand its support for SMEs in Europe even further and to broaden the range of its distribution channels and products”, said President Hoyer. 

Full press release

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