The European Investment Bank today outlined its commitment to supporting investment in UK infrastructure. Lord Sassoon, Commercial Secretary to the Treasury welcomed over 175 members of the International Project Finance Association to the Treasury to hear what the European Investment Bank could offer investors in UK infrastructure.

Speaking at the event James Sassoon, Commercial Secretary to the Treasury said “The European Investment Bank can play a critical role in facilitating infrastructure investment in the UK. Particularly at a time when credit conditions are not easy, we encourage UK business to come forward and apply to the EIB when looking to finance infrastructure projects.”

Simon Brooks, European Investment Bank Vice President for the United Kingdom said “The European Investment Bank is committed to supporting key infrastructure projects in the United Kingdom. At a time of economic constraint ensuring long-term funding for initiatives essential for growth, through project finance and other forms of funding, remains a top priority.  We recognise the need to develop new instruments that correspond to challenges currently hindering infrastructure investment and look forward to working closely with the project finance community to ensure an effective contribution.”

Over the last decade the European Investment Bank lent EUR 28.7 billion for infrastructure projects in the United Kingdom, representing around two-thirds of financial support by Europe’s long-term lending institution in the country. In the UK a substantial proportion of European Investment Bank lending has been to public-private partnership and project finance initiatives, alongside loans to corporate and through intermediaries. The event allowed key members of the project finance community the opportunity to discuss their views on current investment challenging in the sector with senior government officials and representatives of the European Investment Bank.

The International Project Finance Association event held at the Treasury, Investments in UK Infrastructure with the European Investment Bank, was sponsored by Linklaters and KPMG. Richard Threlfall, UK Head of Infrastructure, Building and Construction at KPMG and Bruce White, Head of Global Projects at Linklaters also provided their views on current investment trends in UK infrastructure.

Notes for Editors: 

  • The European Investment Bank is the world’s largest multilateral financial institution and last year provided EUR 72 billion for projects across the European Union and around the work. The European Investment Bank is wholly owned by EU member states and through a AAA rating provides loans at attractive rates and over a longer time period than often available.
  • The European Investment Bank has been active in the United Kingdom since 1973, supporting investment in motorways and rail, water supply and treatment, energy, hospitals, universities and small businesses