Brussels, 16/02/2012 (Agence Europe) - Although budgetary consolidation is necessary, it is not the only answer to the indebtedness being experienced by EU member states. The EU must also strengthen its competitiveness, and the European Investment Bank (EIB) has a role to play in this respect by providing constant support for the real economy, combining its loans with non-reimbursable lending and providing technical know-how. This was how Werner Hoyer, the new EIB president, addressed the press at the presentation in Brussels on Thursday 16 February of the “EU Bank” lending activities in 2011. He went on to point out that, last year, the EIB group granted the “record” sum of €13 billion in funding for SMEs. In 2012, the EIB will ensure continuity in the policy conducted by the former EIB president, Philippe Maystadt, Hoyer said. In other words, the EIB's priorities will remain the same and resources will be allocated according to a breakdown almost identical to that applied in 2011. Nonetheless, in line with its strategy geared to the safeguarding of financial soundness thanks to a gradual return to the levels of lending activity before 2008, the EIB plans, for 2012, to reduce the overall sum of loans granted from €61 billion to €50 billion - a return to the levels of activity foreseen by the EU27 in the package adopted to address the financial and economic crisis in 2009 and 2010.
In 2011, the EIB signed €61 billion in new loans in almost 70 countries. Of this, €54 billion was provided for projects within the European Union and €7 billion outside. The EIB managed to extend its highest-ever financial contribution to the real economy by disbursing €60 billion.
Support for projects that reduce carbon emissions rose to 30% of total lending, providing €18 billion for climate action. This included €5.5 billion for renewable energy investment, €1.3 billion for energy efficiency and €8 billion for sustainable transport.
During 2011, lending outside the EU exceeded €7 billion, with half dedicated to pre-accession countries. The EIB plays an important role in the Deauville Partnership launched in May by the G8 to support democratic and economic transition following the Arab Spring. Loans worth almost €1 billion were signed in 2011 for private sector development and the acceleration of infrastructure projects in the region. Signatures in the EU's eastern neighbours reached a record €800 million.
In line with the informal European Council conclusions of 30 January, the EIB Group's main priority for 2012 will remain supporting sustainable EU growth and jobs. The focus of EIB financing outside the EU will be on pre-accession countries and the EU's eastern and southern neighbours.
Finally, at the behest of EU leaders, the EIB Group will, in 2012, together with the European Commission, explore options to leverage EU budget funds. It stands ready to update lending targets to take account of additional EU budget funding, Werner Hoyer said. (OL/transl.jl)