The European Investment Bank (EIB) is supporting modernisation of Leipzig Zoo through a bank-intermediated loan totalling EUR 38 million (1). The operation will serve largely to replace outdated animal houses by new, more natural open enclosures. Further highlights of the "Zoo of the future" are a greater feeling of experience, especially through the creation of geographically themed zones, close cooperation with scientists (Max Planck Institute) and preservation of the urban/historical environment. Modern catering facilities, a new educational centre and a new maintenance yard are also being funded.
The EIB operation will cover around 50% of financing requirements. The balance will be met by City of Leipzig budgetary resources, an own contribution from Leipzig Zoo and further bank loans.
The finance contract was signed today in Leipzig by EIB Vice-President, Wolfgang Roth, the Mayor of Leipzig, Peter Kaminski, and the Zoo manager, Dr. Jörg Junhold. The EIB Vice-President emphasised that the "Zoo of the future" not only constituted a modern leisure attraction, but would also have further positive spin-offs for the City. These include research and education facilities, as well as the role of the Zoo in terms of animal conservation within an international network of zoological gardens.
As the European Union's financing institution, the remit of the EIB is to underpin the EU's political goals by providing long-term funding for economically viable capital projects. One of its main objectives is to promote the economic development of underprivileged regions. All new federal Länder enjoy Objective 1 status under European regional development policy. Accordingly, the EIB has also furnished vigorous support for the new Länder with loans totalling EUR 14.3 billion, or about half of lending in Germany since 1990. The EIB finances both infrastructure projects and new corporate investment in regional development areas. Loans for less than EUR 25 million earmarked for smaller businesses and local authorities are made available through partner banks in Germany, to whom financing applications should be submitted.
(1) 1 EUR = 0.628500 GBP, 1.95583 DEM and 0.915800 USD.