Brussels, 24/02/2011 (Agence Europe) - The European Investment Bank (EIB) will be announcing the launch of “project bonds” over the next few days, a new type of aid for project promoters that will help them raise funding for infrastructure projects. Project bonds are being introduced by the EIB in response to a call from the President of the European Commission, José Manuel Durão Barroso, that it should examine how such bonds could be used to meet EU infrastructure needs over the next ten years. Project bonds will be issued by companies involved in a project, rather than the EIB itself or the Commission. On Tuesday 22 February 2011, when outlining the EIB's results for 2010 (see EUROPE 10321), EIB President Philippe Maystadt said the EIB could back the issue of project bonds by increasing the amount lent and thereby making them more attractive to private investors. He added that there is vast reservoir of private capital that the EU must learn how to mobilise if it wants to finance its energy, transport and climate targets without dipping into EU or national budgets. (O.L./transl.fl)