The 27 EU Member States approved a €10 billion capital increase to the European Investment Bank. The capital increase will allow Europe’s long-term lending institution to provide up to €60 billion, over a 3 year period, in additional lending for economically viable projects across the European Union.

The Governors of the European Investment Bank unanimously approved a €10 billion capital increase to the European Investment Bank (EIB). This unanimous support for increasing the paid-in capital of the EIB was reached following detailed examination of proposals for increased lending activity by the 27 EU member state shareholders. In 2011, the European Investment Bank financed more than 400 projects in 70 countries.

The new financing will be in addition to the €50 billion regular annual lending. The additional capital to be paid in by each shareholder will reflect their current shareholding. The additional lending will target four priority sectors and be dedicated to supporting innovation and skills, SMEs, clean energy and modern infrastructure.

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.