Brussels, 08/06/2010 (Agence Europe) - At its annual meeting held in Luxembourg on Tuesday 8 June, the Board of Governors of the European Investment Bank (EIB), composed of the finance ministers of the 27 EU member states, agreed to focus lending activity in 2010 on those projects that are likely to have the greatest impact on economic recovery and jobs. The Board of Governors says that larger EU corporations are experiencing an improvement in their access to capital markets and funding and are not expected to make as much use of EIB finance as they did in 2009. On the other hand, it believes that small and medium-sized enterprises' (SMEs) access to finance remains difficult and will be a priority for the EIB in 2010. EIB governors also encourage the Bank to continue its policy of meeting market gaps by increasing the ceiling for special activities, from €6.35 billion achieved in 2009 to €8 billion. The overall lending target for 2010 was set at €66 billion. With this target in sight, the “EIB is on track to achieve the additional €50 billion economic support package it pledged to deliver in 2009 and 2010”, the Bank's president, Philippe Maystadt, pointed out. Maystadt said the EIB had already delivered more than €20 billion of the €30 billion in extra loans to SMEs that it agreed to provide over 2008-2011 within the framework of the European Economic Recovery Plan. He also underlined the role played by the institution under his presidency in the fight against climate change. Finally, during the Ecofin Council also held on Tuesday in Luxembourg (see related articles), the EU27 finance ministers agreed on a general approach to the revision of the EIB's external lending mandate, pending full agreement with the European Parliament. (O.L./transl.jl)