- Record European Investment Fund backing for life science, innovation and growth companies
- Largest number of new projects supported by European Investment Bank in 26 years covering agriculture, communications, education, energy, health, transport and corporate innovation
- Third largest EIB Group annual engagement in Ireland since 1973
In 2018 the European Investment Bank Group supported EUR 970 million of new investment in across Ireland. This included EUR 807 million of new long-term financing by the European Investment Bank, that will strengthen higher-education, improve healthcare, transform transport links and harness clean energy and enhance support for corporate research and innovation. A record EUR 163 million of new equity and guarantee financing was agreed between the European Investment Fund and Irish partners.
“Long-term investment is crucial to strengthen economic growth and improve services and infrastructure used across Ireland every day. The close partnership between Ireland and the EIB Group ensures that technical experience and tailor-made financing is supporting a greater number of projects in priority sectors. The strong European Investment Bank Group engagement in 2018 demonstrates the benefits of this close cooperation.” said Paschal Donohoe, Governor of the European Investment Bank and Minister of Finance.
“The European Investment Bank Group is committed to supporting transformational investment across Ireland and the strengthened engagement in 2018 reflects the close cooperation with public and private sector partners. The EUR 970 million of new financing agreed last year will improve lives and strengthen economic opportunities in Mayo, Galway, Meath and Dublin, as well as accelerate national schemes being implemented across the country. Last year’s impressive results reflect new financing programmes to support Irish corporates, build on a track record of supporting long-term investment in health and education and include record support for world-class equity investors based in Ireland by the European Investment Fund.” said Andrew McDowell, European Investment Bank Vice President.
Improving education and healthcare
Following financing for to upgrade research, education and student facilities at all Irish universities in the last eight years in 2018 the European Investment Bank agreed EUR 210 million of new financing for the Grangegorman campus of Technological University Dublin and Trinity College.
The European Investment Bank also agreed to support the roll-out of Ireland’s transformational eHealth programme through EUR 225 million financing for the new nationwide electronic health and information programme that is expected to improve delivery of health services for the entire population of Ireland over the next decade.
Helping Irish companies innovate
Last year, the EIB agreed to support new investment to strengthen research and development by Devenish, Nuritas and Aerogen using recently launched dedicated financing schemes that reflect the investment needs of Irish companies. The EIB is currently finalising new support for a number of companies active in a range of sectors
Record EIF equity finance for technology and life science innovation
Reflecting the strong growth of innovative firms in the country 2018 represented a record year for European Investment Fund engagement in Ireland with EUR 163 million of new equity and guarantee financing. This included support for Ireland based Atlantic Bridge, financing to expand venture capital investment across the country by Eivers, Merriman and Fountain Healthcare and enabling expanded financing for Irish firms through SBCI.
Sharing experience to unlock Irish investment
The EIB strengthened advisory activity in Ireland in 2018 to support corporate and innovation investment. This included developing funding models to accelerate digitalisation of small business, expand funding available to research organisations and working with Irish corporates to strengthen the impact of research investment.
Strong pipeline of new investment for 2019
The EIB Group is currently examining significant new financing for social housing and broadband internet investment across the country, new support for specialist medical research and expansion of Dublin Airport.
New Investment across Ireland supported by the European Investment Bank in 2018
|
Name |
Sector |
Signature Date |
Signed Amount |
|
AEROGEN INVESTMENT PROGRAMME |
Industry |
06/02/2018 |
€ 30,000,000 |
|
GRANGEGORMAN PPP |
Education |
28/03/2018 |
€ 109,871,987 |
|
IRISH SUSTAINABLE FOREST FUND |
Agriculture, fisheries, forestry |
28/03/2018 |
€ 12,500,000 |
|
OWENINNY ONSHORE WIND FARM PHASE 1 |
Energy |
22/05/2018 |
€ 79,499,620 |
|
ERICSSON 5G |
Industry |
31/05/2018 |
€ 17,500,000 |
|
IRISH CONTINENTAL GROUP FERRY PROJECT II |
Transport |
15/06/2018 |
€ 80,000,000 |
|
DEVENISH NUTRITION |
Industry |
03/08/2018 |
€ 22,800,000 |
|
TCD ENGINEERING ENERGY & ENVIRONMENT INSTITUTE |
Education |
05/10/2018 |
€ 100,000,000 |
|
E-HEALTH IRELAND |
Health |
12/10/2018 |
€ 225,000,000 |
|
NURITAS |
Industry |
28/11/2018 |
€ 30,000,000 |
|
GAS NETWORKS IRELAND |
Energy |
07/12/2018 |
€ 100,000,000 |
|
Total |
|
|
€ 807,171,607 |
European Investment Fund activity in Ireland in 2018
|
Private equity |
Commitment |
|
ATLANTIC BRIDGE |
€ 70,000,000 |
|
Venture Capital |
|
|
EIVERS |
€ 500,000 |
|
MERRIMAN |
€ 2,500,000 |
|
FOUNTAIN HEALTHCARE |
€ 10,000,000 |
|
Guarantee |
|
|
SBCI |
€ 80,000,000 |
|
Total |
€ 185,000,000 |
©EIB
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