The loans were agreed at a meeting that allocated funding with a total value of €9.3bn, including money for schools upgrades and development of facilities at Oxford University.
It has also targeted improvements to congested London Underground stations and an increase in the number of cycle paths in the city.
The new loans will support long-term investment in 28 projects across the European Union, the Western Balkans, the Caucasus region and South America. Agreed projects include strategic investment in road and rail upgrades and construction along with improvements to housing, urban infrastructure, education and research facilities.
EIB’s board approved financing for improvements to roads in France, Germany, and Bosnia and Herzegovina, and the upgrading of a key railway route in Poland.
The meeting gave the green light to a project in Italy to conduct R&D on fuel-efficient vehicles.
The EIB approved a wide-ranging plan to upgrade schools across Italy and loans to develop scientific research and teaching facilities at Oxford University. The Bank also decided to finance investment in low-emission housing, education and childcare facilities, and transport in the Swedish city of Norrkoping.
In total, the EIB’s Board of Directors approved loans worth €9.3bn. This included €3.5bn for strategic infrastructure €1.9bn for the knowledge economy and research investment and €291m for resources efficiency projects. Corporate investment by SMEs and mid-cap companies will also benefit from new loans worth €3.6bn to be managed by local banks and financial institutions.
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