The European Investment Bank (EIB) is expanding its lending for public sector investments through a new credit line to Dexia Kommunbank AB in Stockholm, Sweden.
The EIB has extended a global loan amounting to SEK 200 million (ECU 23 million) to Dexia Kommunbank to be channelled towards the financing of small and medium-sized public sector schemes.
The finance will support projects for more rational use of energy and diversified energy resources, protection of the environment and infrastructure schemes of regional and European Union interest.
Also eligible will be urban development investments and health and education projects as part of the "Amsterdam Special Action Programme", being implemented by the EIB in support of growth and employment in Europe.
Dexia Kommunbank's target customers are Sweden's 23 counties and 288 municipalities as well as county- and municipality-owned companies.
Dexia Kommunbank AB was established in 1996 and is wholly owned by the DEXIA Group, which was created when Crédit Local de France (CLF) and Crédit Communal de Belgique (CCB) formed a joint undertaking in 1996.
The EIB and the DEXIA Group have a long-standing co-operation based on numerous lending operations over the past twenty years in France, Belgium and five other European countries.
The European Investment Bank (EIB), the financial arm of the European Union, contributes by means of its long-term loans towards the integration and balanced development of its member countries as well as countries outside the Union.
In Sweden, the Bank has extended loans totalling SEK 17.5 billion for infrastructure investments, notably roads, railroads, bridges and telecommunication as well as investments within energy, environment and the industry sector. In addition to large projects, the Bank has financed small and medium-sized public and private investments through credit lines (global loans) to financial intermediaries.
The conversion rates used by the EIB for statistical purposes during the current quarter are those obtaining on 31/12/1997: 40.7675 BEF, 6.61 FRF, 0.67 GBP, 8.73 SEK.