According to the last results released by the European Investment Bank (EIB), in 2010 the total lending provided by the bank reached 72 billion euro, from which 63 billion euro were spent inside the EU and 9 billion euro in projects outside. This funds were allocated to support over 460 large-scale projects, which marks a gradual return to pre-crisis levels as the Bank adapts its activity to the economic environment.

Over the last three years, the European Investment Bank (EIB) continued its critical contribution to European recovery and completed delivery of an additional 61 billion euro support package, 11 billion euro more than originally envisaged. Small and medium-sized enterprises, which find it particularly difficult to obtain access to finance in challenging economic circumstances, and less advanced regions in Europe were the main beneficiaries of this exceptional effort.

Over this three-year period, more than 160,000 SMEs received finance from the EIB and less advanced regions in Europe were supported during this period through the financing of 430 projects.

As for sectors, in 2010 the Bank broke the record in financing climate action projects by allocating 19 billion euro to these envelope. These figures represent an impressive 30% of its lending in the European Union. Significantly up from 16 billion euro the year before, this is a new landmark in supporting sustainable growth and building a low-carbon future in Europe. Within this sector, the focus of EIB support for climate action projects remains energy (renewable energy and energy efficiency) and sustainable transport.

The Bank made a successful effort to increase the share of renewable energy and energy efficiency in its portfolio.  More than 6 billion euro of financing supported renewable energy and over 2 billion euro energy efficiency projects in 2010. National renewable action plans have proved to be an important enabler of investment in these areas and all three emerging technologies, wind, solar and biomass, were supported. In the transport sector, the EIB is playing a leading role in supporting the development of electric vehicles.

Countries outside the EU received 2 billion euro in climate action financing in 2010. In the coming three years, the Bank will substantially strengthen its support for sustainable energy projects in these countries. This is due to the 1.5 billion euro increase agreed for the Energy Sustainability Facility, which brings the overall amount to 4.5 billion euro. This, together with the proposed 2 billion euro climate change mandate currently being discussed by the European Parliament and Council, puts the Bank in a good position to help the EU implement its global climate action goals outside Europe.

Looking ahead, the EIB will help to implement the Europe 2020 strategy, the EU’s climate action targets and its external policy objectives. It will continue to provide long-term finance and technical expertise and will strive to develop new instruments with the Commission to provide additional risk-bearing capacity for priority sectors such as infrastructure and SMEs.