One of the main priorities of the European Union is to work to bring cohesion and convergence across Europe and with our partner countries. The EIB supports this goal with the full range of our activities. We work to help economically disadvantaged regions compete better and achieve sustainable growth.
This has been of particular importance since the onset of the financial and economic crisis in 2008. During the crisis, private investors have been more reluctant to lend to public authorities, potentially risking the viability of projects.
We help finance part of the local budgetary contribution to strategic projects. Having secured EIB financing, the regional and national authorities are then able to access subsidies from the EU - EU structural funds – which can only be released once authorities make a substantial contribution towards a project. As such, the EIB’s contribution to regional development plays a key role in safeguarding jobs and growth by enabling investment to go ahead.
The main types of projects supported are:
- Assistance to innovative companies
- Information & communication technologies
- Improving the urban environment
- Trans-European networks
How a EUR 64 million framework loan from the European Investment Bank helped the West Pomerania region in Poland improve transport safety, upgrade its health services and protect the cultural heritage.
We have provided a total of EUR 1.5bn to co-finance the on-going development of the Athens metro. This investment has helped take an estimated 200 000 cars off the road each day and has improved growth potential and quality of life.
We work with the European Commission and others to provide advisory services and customised financial products through a wide range of initiatives and financing products, including:
- Joint Assistance to Support Projects in European Regions (JASPERS)
- Project loans
- Intermediated Loans
- European PPP expertise centre (EPEC)
- Structured finance
- Project bonds