The EIB and Fiat Chrysler Automobiles (“FCA”) announced today that they have finalized a EUR 250 million loan for research and development (“R&D”) projects implemented by FCA. The three-year loan will support the automobile manufacturing group’s activities in its R&D centres in Italy and will consolidate the EU bank's collaboration with FCA, which has resulted in EUR 2.4bn worth of financing operations since 2009.
The EIB has extended a EUR 60m (around PLN 267m) loan to finance the expansion and modernisation of the production and storage facilities of Polish company Maspex Group, one of the largest food companies in Central and Eastern Europe. Part of the EIB financing (EUR 30m) is coming from the European Fund for Strategic Investments (EFSI), at the heart of the European Commission’s Investment Plan for Europe.
Sufferers of rare skin disorders will benefit from new treatment being developed by Amryt Pharma to be supported by the EIB’s first direct backing for pharmaceutical investment by an Irish company. The agreement for the new EUR 20 million loan was formally agreed at the European Investment Bank’s Luxembourg headquarters by Joe Wiley, Chief Executive Officer of Amryt and Andrew McDowell, EIB Vice President.
At the TTE Council Meetings in Brussels today, Vice-President of the EIB Pim van Ballekom together with EU Commissioner for Transport Violeta Bulc presented a new “Cleaner Transport Facility” (CTF), aimed at financing the decarbonisation of the transport sector in Europe.
The EIB has signed a EUR 100 million (SEK 985 million) credit facility with the European Spallation Source (ESS) in Lund, Sweden. The loan was extended under the “InnovFin – EU Finance for Innovators” programme with the financial backing of the European Union under Horizon 2020, the EU's research and innovation funding and support programme which also acts as a possible first loss piece. Apart from providing financing, the EIB’s InnovFin Advisory Service also provided technical assistance to advise ESS on the financial structure enabling access to external funding in support of the construction.
At the international “Tunisia 2020” conference, President of the European Investment Bank (EIB) Werner Hoyer announced that Tunisia would receive up to EUR 2.5bn of support by 2020. The objective is to promote inclusive and sustainable growth, the main source of jobs for young people.
Market integration, better regulation, strengthened public sector capacities and improved access to finance all help counter low investment and secure a brighter economic future. “Breaking Down Investment Barriers at Ground Level”, a new report from the EIB, finds that investment in the European Union is hampered by the insufficient functioning of the internal market, as well as administrative burdens, regulatory fragmentation, constraints of public-sector promoters to procure and implement large infrastructure projects and, not least, the difficulties small and mid-sized companies encounter in obtaining financial services.
The EIB has renewed its cooperation with Komerční Banka (KB) and has signed a new loan of EUR 30 million under the “Jobs for Youth” Initiative. This loan will continue to improve the access of SMEs and midcap companies to long-term financing and improve the conditions for tackling youth unemployment.
A top-level EIB Group delegation, led by EIB Vice-President Dario Scannapieco, is in Belgrade today for talks with the Serbian Government and the signature of a finance contract for the upgrading of judiciary buildings.