EIB provides new funds for North Rhine-Westphalia
- Release date: 23 May 2018
- Reference: 2018-123-EN
- New EUR 800m framework loan with NRW.BANK
- Money to be invested in the Gute Schule 2020 (Good School 2020) programme
The European Investment Bank (EIB) and NRW.BANK have concluded a EUR 800m framework loan. The EU bank is providing North Rhine-Westphalia's promotional bank with further funding on favourable terms, to be used for the renovation, modernisation and construction of municipal school infrastructure in the region.
NRW.BANK Chairman of the Managing Board Eckhard Forst said: “We have an excellent and long-standing partnership with the EIB. Bringing EU funding to North Rhine-Westphalia enables us to provide financing on even more favourable terms.”
EIB Vice-President Ambroise Fayolle, responsible for operations in Germany, emphasised: “Investing in innovation, training and education infrastructure is one of the EU bank's top priorities. If we want smart people to be the backbone of a competitive European economy in the future, then we need modern schools. The Gute Schule 2020 programme in North Rhine-Westphalia – which we are supporting with our low-interest, long-term loans – is not only improving educational infrastructure in general, but is also helping to better prepare students for the digital world.”
Over the last two years, NRW.BANK had already received more than EUR 0.5bn in refinancing funds on favourable terms in the form of two EIB loans for infrastructure projects and small and medium-sized enterprises. The new funds will enable NRW.BANK to refinance part of its NRW.BANK.Gute Schule 2020 programme.