The European Investment Bank's president says the organisation has helped "stimulate" member state recover from the economic downturn.
Speaking in Brussels on Tuesday, Philippe Maystadt said, "We have succeeded in our mission to support recovery in Europe by financing projects that stimulate growth, innovation and jobs and we are proud of our record on climate change projects.
"Building a better and more sustainable future is the driving force behind everything we do."
According to the bank's annual report for 2010, published on Tuesday, the EIB increased funding for climate action projects to €19bn, representing 30 per cent of its lending in the EU and up from €16bn on the previous year.
In 2010, total EIB lending reached €72bn, of which €63bn was in the EU and €9bn outside, supporting 460 large-scale projects.
Maystadt said the bank "continued its critical contribution" to European recovery and provided an additional €61bn worth of financial support over the last three years.
He said that "less advanced" European regions and SMEs, "which find it particularly difficult to obtain access to finance in challenging economic circumstances", were the main beneficiaries of EIB help.
Over a three-year period, 160,000 SMEs received finance from the EIB while 430 projects in less-advanced regions received support.
He said the "focus" of EIB support for climate action projects remains energy and sustainable transport.
He told a news conference that the EIB will help "implement Europe's 2020 strategy and pursue sustainable, smart and inclusive growth."
He added, "Budget restraints, however, are likely to apply going forward, both at EU and national levels.
"But the needs for investment in order to enable and drive economic growth are huge.
"This is particularly true for large infrastructure projects and this highlights the importance of identifying new financial instruments, for example, through the combination of EU budget funds and EIB loans."
Source: http://www.theparliament.com
Speaking in Brussels on Tuesday, Philippe Maystadt said, "We have succeeded in our mission to support recovery in Europe by financing projects that stimulate growth, innovation and jobs and we are proud of our record on climate change projects.
"Building a better and more sustainable future is the driving force behind everything we do."
According to the bank's annual report for 2010, published on Tuesday, the EIB increased funding for climate action projects to €19bn, representing 30 per cent of its lending in the EU and up from €16bn on the previous year.
In 2010, total EIB lending reached €72bn, of which €63bn was in the EU and €9bn outside, supporting 460 large-scale projects.
Maystadt said the bank "continued its critical contribution" to European recovery and provided an additional €61bn worth of financial support over the last three years.
He said that "less advanced" European regions and SMEs, "which find it particularly difficult to obtain access to finance in challenging economic circumstances", were the main beneficiaries of EIB help.
Over a three-year period, 160,000 SMEs received finance from the EIB while 430 projects in less-advanced regions received support.
He said the "focus" of EIB support for climate action projects remains energy and sustainable transport.
He told a news conference that the EIB will help "implement Europe's 2020 strategy and pursue sustainable, smart and inclusive growth."
He added, "Budget restraints, however, are likely to apply going forward, both at EU and national levels.
"But the needs for investment in order to enable and drive economic growth are huge.
"This is particularly true for large infrastructure projects and this highlights the importance of identifying new financial instruments, for example, through the combination of EU budget funds and EIB loans."
Source: http://www.theparliament.com
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