EIB President, Werner Hoyer visited Madrid today and met with Prime Minister Mariano Rajoy to discuss EIB’s activities in Spain. It was their first meeting since Werner Hoyer took office earlier this year.
Werner Hoyer, President of the EIB, said that "this year the Bank has already invested more than EUR 5.5 billion in Spain. The country remains the largest recipient of loans from the EIB in a wide range of economic sectors, notably large infrastructure projects, renewable energy and knowledge economy as well as financing SMEs. The Bank will continue to support the Spanish economy by financing sound projects that will enhance Spain's growth potential and secure employment creation."
At the meeting, they underlined the excellent and long-standing cooperation between the EIB and Spain. The EIB started operations in Spain in 1981. So far, EIB financing in the country has reached EUR 126 billion for a wide range of projects in both the public and the private sector, including large corporates, midcaps and SMEs. They exchanged views on the way the EIB could best support economic recovery in Spain, in particular by providing access to finance for mid-caps and SMEs, as securing and creating jobs is a key priority. Also at this official meeting, President Hoyer welcomes the Spanish contribution to EIB’s capital increase which is a tangible part of EU’s growth strategy and would allow the EIB to continue strengthening Spain's growth capacity and competitiveness.
In 2011, the European Investment Bank provided loans totalling more than EUR 9 billion for projects in Spain. Thus, for the eighth consecutive year, Spain was the largest recipient of EIB loans in the EU-27.
The European Investment Bank is the long-term lending institution of the European Union. It is owned by the Member States of the Union. It makes long-term finance available for sound and efficient investment in order to contribute towards EU policy goals. In its financing activities in the EU the EIB pursues six priority objectives:
support for economic and social cohesion;
support for small and medium-sized enterprises;
innovation and the knowledge economy;
the development of the trans-European transport and energy networks;
sustainable, competitive and secure energy supplies.
In 2011 the EIB continued to support projects in Spain in line with the European Union’s objectives and the Bank’s six top priorities
Overrall, in 2011 the European Investment Bank lent EUR 61 billion for projects promoting the European Union’s policy objectives. Finance for the EU-27 Members States represented around 90% of its activities and amounted to EUR 54 billion.
Following the tragedy that struck Beirut on August 4, President Hoyer will speak at the Conférence internationale d’appui et de soutien à Beyrouth et à la population libanaise (International conference on assistance and support to Beirut and the Lebanese people).
The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D. the Minister for Finance, Paschal Donohoe T.D and the Minister for Agriculture, Food and the Marine, Dara Calleary T.D. today (Thursday the 30th of July) launched a €500 million expansion to the Future Growth Loan, the government’s scheme to support SMEs, farmers and fishing. The additional funding will be provided by the EIB Group.
Pursuant to Article 27 of the Bank’s Rules of Procedure, Ms Beatrice DEVILLON-COHEN (former Managing Director – Head of Derivatives Trading, Société Générale, London) was proposed as a candidate to perform the duties of an observer to the Audit Committee.