The European Investment Bank (EIB) Group has today officially inaugurated its representative office in Copenhagen to support business, develop contacts with the public and private sectors, strengthen relations with promoters and partner banks, and enhance its outreach in Denmark.
The office has been opened today by EIB Vice-President Jan Vapaavuori with the Permanent Secretary of State from the Danish Ministry for Business and Growth, Michael Dithmer, in the presence of ambassadors of the EU Member States and representatives of Denmark’s government as well as banking and business communities. The EIB Group representation for Denmark will be headed by Mr Stephen Hart.
Jan Vapaavuori, EIB Vice-President responsible for operations in Denmark, said: “The new EIB Group representation will allow us to better assess and respond to the financing needs in Denmark. The EU bank is following its “lending, blending and advising” approach towards mobilising investments. There is scope to increase our support and deepen our cooperation with Danish project promoters, private investors, co-financers and public authorities for the benefit of the people and for greater competitiveness”.
Permanent Secretary of State for Business and Growth Michael Dithmer said: “With the opening of the EIB office in Copenhagen, I am convinced that we will strengthen the ties between Denmark and the EIB. By doing so, the EIB will be able to continue to grow its business in Denmark providing its different financing products to Danish companies. This can help to improve access to finance for Danish companies, and contribute to potential future Danish business successes.”
The inauguration of the EIB Group’s office in Copenhagen is part of the EIB’s policy to enhance its presence in all EU Member States. A presence on the ground in the EU capitals will ensure market proximity, an increased operational delivery capability for the EIB and closer institutional ties with the national authorities. It will improve project identification and screening, facilitate appraisal of new operations and develop financing opportunities with the European Investment Fund (EIF). It will also play an important role in implementing new products to finance the public and private sectors such as the European Fund for Strategic Investments (EFSI), part of the Investment Plan for Europe.
The EIB has strongly supported the Danish economy since its entry into the EU in 1973 by lending up to now almost EUR 20 billion for sound investment projects. Over the last five years the EU bank’s financing has focused on promoting research, development and innovation in the industrial sector, as well as fostering support for Danish SMEs, high-speed broadband services and security of the energy supply.
The EIF has operated in Denmark since 1999 and supported over 22 private equity funds investing in Danish SMEs with three partner finance and guarantee providers. Thanks to that more than 1,500 Danish SMEs have been supported.