25/02/2016 (Agence Europe) - GBP 500m EIB backing for UK Power Networks in England. On Thursday 25 February, the European Investment Bank (EIB) agreed to grant a £500 million loan (€634 million) and a 20-year loan facility to support the UK Power Networks operator's GBP 1.2 billion network investment to improve critical energy infrastructure over the next seven years in the east and south-east of England. This loan facility comes on top of the European Investment Bank's existing commitment of GBP 350 million, to UK Power Networks, which distributes 27% of the UK's electricity, owns and operates 130,000 substations and 170,000 km of overhead lines and underground cables. Over the last decade the EIB has provided more than GBP 10 billion for investment in energy infrastructure across the UK including renewable energy schemes, national transmission networks and regional power distribution as well as inter-connectors to Ireland, France and the Netherlands. The EIB is the world's largest international public bank and is 16% owned by the UK government. (EH)