Tag Archives: EIB

EIB backs CargoBeamer with €12.6 million to support deployment of new freight rail technology

 

·       Support for a cleaner and cost competitive transport alternative for cargo

·       Construction of three innovative rail freight terminals in Calais (France), Kaldenkirchen (Germany) and Domodossola (Italy)

·       The project is financed under the Future Mobility product, backed by the European Commission.

Today, the European Investment Bank Group and CargoBeamer AG signed a €12.6 million equity type financing in the form of a senior secured loan coupled with a profit sharing mechanism. The financing supports the construction and implementation of three new rail freight terminals in Calais (France), Kaldenkirchen (Germany) and Domodossola (Italy) to run combined transport rail services between these terminals as well as to other destinations. The Project will be implemented from 2020-2022. The EIB loan is backed by the Future Mobility facility (“FM”), a joint initiative established by the EIB and the European Commission under the Connecting Europe Facility (“CEF”) Debt Instrument.

CargoBeamer’s technology (video link) enables “combined road-rail transport” and allows transferring most truck cargo to rail. The company’s patented technology consists of rail wagons, innovative shipment terminals and logistics software. CargoBeamer’s system is compatible with 80% of the cargo trailers currently in use and thus offers a cleaner and cost competitive alternative when compared to road-transported freight.

“European road transport continues to have the largest share of freight inland transport, resulting in traffic congestions, air pollution and greenhouse gas emissions. With freight traffic expected to further grow, the modal shift to rail is becoming more important than ever,” said EIB Vice-President Ambroise Fayolle. “Combined transport solutions such as road-to-rail can contribute to decarbonising transport and play an important role in achieving our goals towards a more eco-friendly, sustainable and efficient transport sector in Europe. That is why I am very pleased that the EIB, as the EU climate bank, supports an innovative company such as CargoBeamer.”

Adina Vălean, European Commissioner for Transport, added: “This loan will support our European Green Deal and Sustainable and Smart Mobility Strategy of greening freight transport. To accelerate the transition towards smart and sustainable transport, intermodality is a critical building block, and I am happy that we are able to support Cargobeamer in their effort to shift freight to rail.”

“An international network of terminals at carefully selected locations will be the key to success in our business. Therefore we are pleased about this financing package as an important step for our ambitious growth plan in the future,“ explains Dr. Markus Fischer, CFO of CargoBeamer. “We are convinced that combined transportation and the sustainable solution it offers will play an instrumental role in the modal shift of the upcoming years. We are happy that the EIB and the European Commission share our vision by announcing CargoBeamer as the third project supported by the Future Mobility Facility since it’s launch last year.”

CargoBeamer obtained the EU certification of its technology in 2013 (a crucial step in the highly regulated rail market) and since 2015, it has been successfully operating the route between Kaldenkirchen (Germany) and Domodossola (Italy). On this route the company has been able to capture about 7% of the road freight market in the corridor (excluding the broader hinterland) thus demonstrating that a significant modal shift from road to rail is possible. The first terminal fully using the CargoBeamer technology is currently under construction in Calais (France) and will be opened in mid-2021.

EIB: extra €3.7 billion for migration issues

The Council has given the go-ahead to increased lending by the European Investment Bank to projects outside the EU that address migration issues.

It adopted the decision and regulation on 27 February 2018, following an agreement with the European Parliament on a mid-term review of the EIB’s mandate for ‘external’ lending.

In total, the financing limit under an EU guarantee is increased by €5.3 billion. Of this, €3.7 billion are earmarked for projects in the public and private sectors providing a strategic response to the root causes of migration.

The decision and regulation:

  • release €3 billion kept in reserve as part of the EIB’s €30 billion budget for external operations for the 2014-20 period. Of this, up to €1.4 billion is earmarked for projects in the public sector addressing the root causes of migration;
  • provide an additional €2.3 billion for that period, under a mandate for private sector lending for projects addressing the root causes of migration.

Projects outside the EU represent around 10% of total EIB financing activities.

The decision was taken at a meeting of the General Affairs Council, without discussion. This follows an agreement with the Parliament on 29 November 2017.

EIB EUR 6.5 billion energy-SME-transport and urban investment

We value regular and intensive engagement with civil society. It strengthens the EU Bank’s contribution to the economy and society everywhere. It builds on detailed consultation concerning specific projects and covers broader issues about strategy and the EIB’s overall role. Our exchange with NGOs and other civil society organisations is always fruitful, including when we come to different conclusions about specific initiatives. Yesterday was no exception. We learnt a lot.” said Werner Hoyer, President of the European Investment Bank.

At its first meeting of 2018 the Board of the European Investment Bank today approved a total of EUR 6.5 billion of new financing for 36 projects in 17 European Union countries and schemes in Africa, Asia and Latin America.

Engagement with Civil Society

The Luxembourg meeting of the EIB’s 28 EU Member State shareholders and the European Commission followed a day of discussions between Board members and representatives of more than 90 different civil society organisations.

Approval of EIB Diversity and Inclusion Strategy

The Board approved the EIB’s Strategy for Diversity and Inclusion that sets out priorities and targets for ensuring that the EIB itself better reflects society.

“A diverse and inclusive organisation increases staff engagement and will strengthen the impact of our activity. The EU Bank is committed to protect equal opportunities and foster a more inclusive work environment. The new Diversity and Inclusion Strategy reaffirms this commitment and sets out a clear path to achieve these goals over the next four years.” added President Hoyer.

New financing approved by the EIB Board

“New financing approved today demonstrates the EIB’s firm commitment to improving education, energy, transport, housing and water needs and ensuring that businesses can expand. This includes both new initiatives to transform the global green bond market and improve daily life in western, central and southern Africa.” highlighted President Hoyer.

Approval of EUR 1.5 billion financing for Trans-Adriatic Pipeline

Following detailed discussions the EIB Board approved EUR 1.5 billion of financing for the Trans-Adriatic Pipeline (TAP) that will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

The project is part of the Southern Gas Corridor, an initiative identified by the Council of Ministers, the European Commission, and the European Parliament as a strategically important component within the EU’s energy policy (Project of Common Interest).

Backing expansion of green bonds to support sustainable investment

Building on the EIB’s role as the first and largest issuer of green bonds worldwide the board approved support for a new USD 2 billion initiative to strengthen use of green bonds in emerging market in cooperation with a number of international financial institutions. This will address the limited issuance of green bonds in developing countries most vulnerable to a changing climate.

Support for renewable energy and security of energy supply

Reflecting the EIB’s commitment to support both renewable energy and strengthen security of energy supply, in addition to the Trans-Adriatic Pipeline, financing was approved for a new 17MW wind farm in Lower Austria, construction of a hydropower plant on the Nenskra river in Georgia and medium sized renewable energy projects across Africa.

New backing for energy distribution includes modernisation of distribution and roll-out of smart meters in Spain, improving reliability of existing distribution networks in Italy and construction of a new waste to energy plant in the Scottish city of Dundee.

Improving transport infrastructure

The board also approved financing for construction of the new Line 4 of the Athens Metro and trains for the new route, expansion and upgrading of Iceland’s main airport at Keflavik, a 7 km extension of the light-rail network in Morocco’s political and administrative capital Rabat including construction of 13 new stations.

In line with the EIB’s broad engagement to support transport across sub-Saharan Africa new financing was also approved for financing a rapid transit bus network in the Senegalese capital Dakar, including construction of 23 stations and acquisition of 144 new buses. The board also approved support to upgrade the Great North Road, a key access route to Indian Ocean ports in landlocked Zambia.

Strengthening support for urban investment

New investment totalling EUR 970 million to improve services, provision of social housing, sustainable infrastructure and reduce energy use in cities across Europe was also approved. This includes new finacing for urban development investment across Greece, renovation of cultural facilities in Innsbruck, and support for urban infrastructure in the north-western Romanian city of Oradea and towns across Poland.

The EIB will also back for a four-year social housing construction scheme in Hamburg and finance retrofitting and building of new housing units with a housing corporate in Rotterdam.

Supporting business investment with local partners

The board agreed more than EUR 1.3 billion of new financing to support investment by companies across Europe. This includes support for leasing activity in Poland, financing for export-focused firms and climate related investment in the Czech Republic and new credit lines with leading local banks in Finland, Italy, Spain and Portugal.

Improving internet access, education and water services

Future financing to improve high-speed internet services in the greater Toulouse region and construction of a new university campus in Helsinki was agreed.

Reflecting the EIB’s unique technical and financial experience supporting water investment worldwide new projects in Friesland and the Rwandan capital Kigali were also approved.

Investment Plan for Europe

Financing for four projects approved by the EIB board will be backed by the Investment Plan for Europe and support overall investment totaling EUR 4.1 billion.

Today’s approvals included the financing of high-speed internet in France and a windfarm in Austria, as well as support for smaller companies in Poland and for the Trans-Adriatic Pipeline.

EU Bank finance investment for climate action, broadband and business

The EIB is the largest multilateral investor in climate action. As the world’s climate leaders meet in Bonn, our commitment to the COP climate targets and to the Sustainable Development Goals is stronger than ever. The projects we approved today are evidence of that. They range from backing solar power in India to reforestation in China and climate-relevant investment in the EU, including under the Investment Plan for Europe. Over the next 5 years we plan to bring close to EUR 100 billion to climate action projects, and continue to partner with other multilateral development banks to ensure that all our financing is complementary and achieves maximum impact.” said Werner Hoyer, President of the European Investment Bank.

Meeting in Luxembourg earlier today the board of the European Investment Bank approved a total of EUR 9.2 billion of new financing for 38 projects in 16 European Union countries and around the world in Africa, Asia and Latin America.

This includes support for transformational investment to harness onshore and offshore wind energy, expand high-speed mobile broadband and strengthen industrial innovation. New schemes to improve water infrastructure, build new hospitals and construct new high speed rail links were also approved.

More than EUR 1.8 billion of new financing approved today will support investment in 13 projects guaranteed by the European Fund for Strategic Investments. These include expanding internet access in southern France, and building new windfarms in eastern Spain, Sweden, the Netherlands and Ireland.

Backing new climate related investment to cut emissions and reduce energy use

The new projects expected to be financed by the EIB include EUR 3.7 billion for climate related investment. This includes schemes to adapt water infrastructure to changing weather patterns in the Netherlands and Panama, cut industrial energy use in Italy and Germany, increase use of small-scale hydropower in Greece, generate green energy from biomass in Poland and Croatia, reduce road use in Spain and construct zero energy buildings in Austria.

Supporting sustainable energy and improving security of energy supply

Overall a total of EUR 2.6 billion of new energy financing was approved, including renewable energy projects, investment to replace energy intensive substations in the Ukraine and new support for equity investment in sustainable energy projects in Africa, Asia and Latin America.

New investment will improve the reliability and security of energy networks in Wallonia and Greece, as well as construct new strategic oil reserves in Cyprus.

Support for small business investment

The board approved more than EUR 4.2 billion of new support for lending to small business by partner banks, including in Spain, Italy, Croatia and Poland.

New focused lending initiatives will finance innovation, digitalisation and internationalisation activities by SMEs and midcap companies in Spain.

Improving urban living through new investment

One new scheme will finance basic public infrastructure in towns in 24 regions across Tunisia.

Improving high-speed rail transport

A new EUR 190 million loan will finance construction and environmental impact mitigation for a new 120km high-speed rail line south of Valencia in Spain.

Financing corporate innovation and research

The EIB board also approved more than EUR 937 million of new financing to support research and innovation by manufacturing, chemical and healthcare companies in Finland, France, Bulgaria, Italy, Poland, Romania and the Netherlands.

Improving health and education facilities

New financing will also support long-term investment in social infrastructure, including new healthcare facilities in the Netherlands and education in the Netherlands and Italy.

Support for public-private finance

Public-private partnership projects approved by the November meeting include the Oweninny windfarm in Ireland, Blauwind offshore windfarm in the Netherlands and Var internet project in France.

No Green without Blue: EIB to support the blue economy

“The European Investment Bank, which is the long-term lender of the European Union, can be a strong partner in protecting the environment, especially our oceans. With your help, we can reduce pollutants in the water, manage ocean resources sustainably and mitigate climate change.”  Said Jonathan Taylor Vice-President in charge of Climate Action and Environment at the European Investment Bank (EIB).

Speaking at Oceans Action Day, at the COP23 UN Climate Conference in Bonn the Vice-President in charge of Climate Action and Environment at the European Investment Bank (EIB) has urged the global community to do more protect oceans and support the blue economy.

Mr Taylor: “It is important to underline that there simply will be no green without blue. In other words, in order to meet the Paris targets and Sustainable Development Goals, we need to establish an economy that is blue in the same sense that the economy on land should be green.”

Speaking at one of a series of events organised around Oceans Action Day, Vice-President Taylor added, “But the global community needs to work together. It is clear that current climate strategies – on national, regional or local levels – are not leading to concrete policies and mechanisms to ensure that ocean acidification is reduced.”

As a key supporter of the Paris Climate Agreement, the EIB has committed to deliver global climate financing of 100 billion dollars before 2020. The EU bank’s efforts actively contribute to the reduction of carbon dioxide emissions and tackle important water issues such as ocean acidification and warming, which are growing problems around the world.

The EIB is involved in a wide range of ocean and coastal projects – supporting adaptation, biodiversity and ecosystems projects aiming to increase the resilience of the ocean and coastal environments to the effects of climate change. Over the last five years the EIB has supported the blue economy activities such as offshore wind, seaport installations and water transport with around 8 billion euros.

The EIB’s support for small island states has involved mitigation and adaptation projects in the Caribbean (supported by a recent 110 million dollar loan to the Caribbean Development Bank for climate change mitigation, adaptation and resilience projects), the Pacific, Atlantic Ocean, Indian Ocean and the Mediterranean. Projects include an airport in the Cook Islands, roads in La Reunion, a wind farm in Cape Verde, solar micro grids in the Maldives, upgraded water systems in the Seychelles and a hydro project in the Solomon Islands.

Small islands are among the most vulnerable to the effects of climate change. Discover in this interactive map how the European Investment Bank is helping them adapt to climate change and mitigate its effects.

On November 10 at COP23, the EIB signed its biggest ever loan in the Pacific: a water project in Fiji’s capital Suva to help increase climate change resilience of the water supply system. Earlier this year, the EIB also approved a 20 million dollar investment in the Sustainable Ocean Fund.

This will provide money for marine and coastal enterprises that are helping with conservation, improved livelihoods and better economic returns.

EIB supports Argentina SMEs

The positive impact of this loan will be its contribution to private sector economic development in Argentina, granting credit to businesses to provide liquidity to all productive sectors. The operation signed today shows the EU’s commitment to working with Argentina and our steadfast support for its economic reforms.” Said at the signing ceremony, EIB Vice-President Román Escolano.

The operation signed in Buenos Aires is the EIB’s first with the Argentine Republic since 1996.

The Argentine Bank of Investment and Foreign Trade will manage the funds

The European Investment Bank (EIB) will provide USD 71m to the Argentine Republic to finance investment in Argentine small and medium-sized enterprises (SMEs). This liquidity will enable them to continue growing and creating jobs in the country. EIB Vice-President responsible for Latin America Román Escolano and Argentine Minister of Finance Luis Caputo signed the USD 71m loan today in Buenos Aires. It will enable the EU bank to assist Argentine businesses via the Bank of Investment and Foreign Trade (BICE), which will manage the funds and provide at least an additional USD 71m.

The operation signed today is the EIB’s first with the Argentine public sector since 1996. The EU bank began operations in Argentina in 1994, and since then has signed 13 operations in the public and private sectors aiming to support the country’s economic growth. The loan granted today is intended to foster productivity in Argentine SMEs, which are the main drivers of the national economy and will be able to benefit from the favourable borrowing conditions provided by the EIB in terms of both maturities and interest rates.

Argentine Minister of Finance Luis Caputo highlighted the EIB’s support for granting loans to SMEs. “Recovering the world’s trust in Argentina is a central pillar of the strategy of the Government and this Ministry. This work has made it possible for us to obtain good financing terms for SMEs and entrepreneurs.”

The funding secured with the EIB will enable us to achieve our goal as a development bank: promoting financial inclusion and extending the maturities of the loans used to finance businesses across the country. We will steer these funds into loans granted directly or via our second-tier channel, where they will be used to finance productive investment, exports and renewable energy projects promoting sustainable growth,” said BICE President Pablo Garcia.

The EIB loan signed today with the Argentine Republic is covered by the EU guarantee agreement and is granted under the EU Latin America lending mandate 2014-2020.

The EIB Vice-President responsible for Latin America is in Argentina as part of a visit to several countries in the region, where he has signed other related agreements to drive economic, social and environmental development.

 

EIB: EUR 4.7 billion investment

“We continue to observe an investment drought in the European economy hurting the future competitiveness of the continent, and market gaps in long-term financing opportunities available,” said Werner Hoyer, President of the European Investment Bank. “The new projects approved today continue EIB’s contribution towards filling those gaps, to supporting sustainable investment across Europe and around the world. But we also stand ready to help regions to get back on their feet when natural disasters strike, as today’s financing package for Italy shows.”

The board of the European Investment Bank approved a total of EUR 4.7 billion of new financing for 30 projects across Europe and around the world at its meeting in Luxembourg today, including EUR 530 million for natural disaster recovery in Italy.

Reconstruction efforts will follow 40 different extreme weather events in 16 Italian regions over the last three years. This will help to finance urban reconstruction, including housing and public buildings, as well as financing to small companies and agricultural businesses impacted by recent natural disasters.

Other approved operations included backing for road and rail transport, renewable energy and electricity interconnectors, industrial innovation, healthcare, education and off-grid solar energy.

Investment Plan for Europe

Financing for eleven projects approved by the EIB board will be backed by the Investment Plan for Europe and support overall investment totaling EUR 1.6 billion in fifteen EU countries.

Today’s approvals included support for research and development in Bulgaria, Germany, France and Denmark as well as financing for transport and social infrastructure in Poland.

Improving urban, regional and national transport

A total of EUR 1.8 billion of new financing was approved for 8 new rail and road transport projects. This includes support for rail and road network modernisation in Poland, new trams in the Rhine-Neckar conurbation and new intercity rolling stock for use on routes between Paris and the Normandy coast.

New financing for congested urban roads in Tunisia was also approved, supporting construction of 8 new road junctions in the city of Sfax.

Supporting sustainable energy and improving electricity networks

Support for investment in new onshore windfarms in Latvia, as well as new small scale geothermal, biomass and solar power schemes across Italy, was approved amongst a total of EUR 664 million for new energy investment.

The board also backed financing proposals to modernise and reduce energy use in district heating in Krakow, to construct a new combined heat and power plant fuelled by waste in Sofia and to build a 400kV electricity interconnector between Romania and the Moldovan capital Chisinau.

It also agreed to a new scheme to support energy and water efficiency investment by private householders in Portugal.

Enabling corporate innovation and research

The EIB board approved more than EUR 495 million of new financing to support innovation by private companies. This includes modernisation of steel manufacturing in Germany and France, development of catalysts in Denmark, energy efficient cables in Italy, and research into new vaccines in Bulgaria.

Improving health and education facilities

Reflecting the EIB’s commitment to support long-term investment in social infrastructure and innovation, new financing to support the design, construction and fitting out of a new medical simulation centre in Warsaw and modernisation of high schools in the Seine-Saint-Denis department was also approved.

Backing urban regeneration

The board gave the green light for proposals to support city wide regeneration, renovation and preservation investment schemes in Limerick and financing investment in cities across Silesia.

Support for small business investment

A total of EUR 560 million of new financing to be managed in partnership with local banks was approved. This will improve access to finance by small and medium sized companies in Austria, Germany, Slovakia, Bulgaria and Portugal.

#IMF2017: EIB claims better cooperation on migration

Irregular migration and forced displacement is not new. But for too long we have lacked a joint, coordinated approach to address both the root causes of this phenomenon and its consequences.
Global institutions like Multilateral Development Banks have a special responsibility to cooperate. It is urgent for us to improve the way in which we work together as we bring assistance to people in all the countries concerned.” Said Werner Hoyer, President of the European Investment Bank (EIB).

Better coordination of the work of Multilateral Development Banks could have a significant impact on the millions of people around the world affected by the migration and forced displacement challenge. This is the thinking behind a new proposal debated today by representatives of the world’s multilateral development banks and countries from the G7 in Washington at the IMF/World Bank Group annual meetings.

EIB President and World Bank CEO Kristalina Georgieva were co-chairing the meeting alongside Vincenzo La Via, one of Italy’s high level representatives at the G7.

President Hoyer added, “As the destination of thousands of tragic journeys across the Mediterranean, Italy, which chairs the G7 this year, has been shouldering a disproportionate part of the task of dealing with desperate migrants and displaced persons arriving in Europe. I believe we must respond positively and urgently to Italy’s request to strengthen cooperation among MDBs in this area. We must get better at how we MDBs as a group help address the shocks and stresses that arise from this profound change.” 

EIB supports the digital economy

 

 “The agreement signed today with IP Only under the Juncker Plan is good news for Sweden just days after the first EU summit dedicated to Europe’s common digital project. Europe needs fast internet to reap the benefits of the digital single market. This is true for citizens and companies alike, in all corners of Europe: rural or urban.” Said Vice-President Andrus Ansip, responsible for the Digital Single Market.

The European Investment Bank (EIB) is lending €125 million to Swedish broadband provider IP-Only to support the expansion of its fibre network in cities and rural areas in Sweden. This deal will give high-speed internet access to over 400,000 homes by 2020.  And as Cyber Security Month kicks off, the EIB has also signed a €20 million financing agreement with CS Group in France under the Investment Plan. The company will use the financing to develop their research, development and innovation into cyber security systems.

EU support innovative medical research with €75 million loan to Evotec

The development of innovative treatments is a process which requires sustained investment. This is where the Investment Plan can play a role. I am glad that, with today’s agreement, the Plan is supporting research which aims to tackle serious illnesses and diseases.” Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness said. The Investment Plan for Europe continues to support innovative projects in the health sector.

The European Investment Bank (EIB) is providing €75 million to Evotec to invest in research and development of treatments for serious illnesses. The loan is guaranteed by the European Fund for Strategic Investments (EFSI), the central element of the Investment Plan for Europe, the so-called Juncker Plan. Evotec will use this long-term financing boost to finance drug discovery and the development of new treatments for serious illnesses and diseases. The type of financing is also novel: it is the first large equity-type investment under EFSI in any industry anywhere in Europe. It also EFSI’s first contingent investment, meaning the bank shares the risk of Evotec’s research & development (R&D) success. This agreement with Evotec comes days after agreements were finalised with MagForce to develop new treatments for brain cancer as well as Apeiron which also develops cancer treatment, particularly a rare type affecting children. Also today the European Investment Fund signed a deal with ACT Ventures to provide €20 million in financing to small tech businesses in Ireland.

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