Brussels, 22/05/2012 (Agence Europe) - The European Investment Bank (EIB) will continue to play its role in supporting growth and innovation in Europe. That is the message that came from Bank President Werner Hoyer at the annual meeting of the institution's board of governors (the finance ministers of the 27 member states) on the sidelines of the Ecofin Council of 15 May (see EUROPE 10615).
Hoyer underlined the role played by the Bank in promoting sustainable growth, innovation and jobs in Europe and beyond. In 2011, he said, the EIB provided its highest-ever financial contribution to the real economy with €60 billion disbursed to its clients. At the end of last year, the Bank's outstanding loans amounted to around €395 billion, more than the loan portfolio of all other multilateral financial institutions combined.
Around €13 billion went to small and medium-sized enterprises (SMEs), while some €18 billion was invested in projects aimed at reducing carbon emissions and supporting the EU's global role in fighting climate change. The EIB supported the so-called “knowledge triangle” of research, innovation and education, providing around €10 billion. “These areas are absolutely essential for creating a modern economy and key elements of any growth strategy”, Hoyer said.
In 2011, the EIB raised €76 billion, almost half of it (46%) with non-European investors, providing a clear indication of the “continued trust and confidence in the EIB and in Europe”.
The EIB will continue to concentrate its action on projects and sectors that make a significant contribution to Europe's competitiveness. “Lending to SMEs is clearly a priority for us”, Hoyer stated. (OL/transl.rt)