The European Investment Bank (EIB) has signed a loan agreement with Fundacion Apec de Crédito Educativo (FUNDAPEC), to boost access to finance primarily for students in the Dominican Republic. The EIB credit line will support up to 8,500 microloans in the Dominican Republic, providing access to credit to disadvantaged populations and students from low income households, which should represent at least 75% of the beneficiaries.
At a special conference at the European Parliament in Brussels on 21 June 2017, EIB Vice-President Dario Scannapieco laid out the actions that the EU bank is taking to help manage migration to Europe and to tackle its root causes in Europe’s neighbourhood and beyond.
Five Romanian banks have signed up to the SME Initiative in Romania, to provide new financing for Small and Medium enterprises (SMEs) across the country. The SME Initiative is managed by the EIB Group (European Investment Bank and European Investment Fund), the Government of Romania and the European Commission.
Today, the “Långmarken” wind farm in Kristinehamn, Sweden - backed by the EIB and Mirova, and promoted by Eolus Vind - was officially inaugurated at a public event in the presence of the owners of the wind farm. Mr. Kenneth Johansson, county governor of Värmland, was one of the prominent speakers at the inauguration. Långmarken was the first project in Sweden that the European Investment Bank financed under the European Fund for Strategic Investments (EFSI) which is at the heart of the Juncker Commission’s Investment Plan for Europe.
The European Investment Bank (EIB) and BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV, TASE: BVXV), developer of the Universal Flu Vaccine candidate M-001, announced that they have entered into a €20 million (approximately $22 million) loan agreement. The event organized to mark the collaboration and the granting of the loan occurs today at the EIB Headquarters in Luxembourg, in presence of Mr. Ambroise Fayolle, EIB Vice-President responsible for innovation, and Dr. Ron Babecoff, CEO of BiondVax.
JASPERS (Joint Assistance to Support Projects in European Regions) completed 127 assignments in beneficiary countries in 2016, continuing to represent a key part of the EIB’s advisory services. The projects supported by JASPERS since 2006 and approved by the European Commission for funding have mobilised total investment exceeding EUR 80bn, of which some EUR 12bn for 61 projects was approved in 2016. Other projects worth of billions of euros are in the pipeline.In Slovakia, JASPERS has completed 72 actions and 34 are ongoing. All actions support projects which are crucial for the country, especially in the transport sector. The European Commission has approved 39 of these projects, which have mobilised total investment of EUR 5.7bn, of which EUR 3.1bn in EU grants.
The European Investment Bank (EIB) has provided BNL Gruppo BNP Paribas with a total of EUR 250m via two new agreements to finance SMEs and public entities on a local and national level, as well as midcap companies for research and innovation projects.
The Board of the EIB today approved new financing totalling EUR 9.8 billion to support investment in 38 new projects to strengthen infrastructure and investment across Europe and around the world. This includes EUR 2 billion for earthquake reconstruction in Italy and the EIB’s first ever support for PPP investment in social housing, through a new initiative in Ireland. Outside Europe the Board agreed on financing for the EIB’s first dedicated backing for new investment to improve the quality of healthcare in sub-Saharan Africa and for projects in three African counties to provide clean drinking water for millions of people.
The EIB and the IMF are doing more together to promote economic stability in Europe and beyond. At a meeting today at the headquarters of the EU bank in Luxembourg, EIB President Werner Hoyer and the Managing Director of the International Monetary Fund Christine Lagarde took stock of progress of complementary efforts by the two institutions.