Luxembourg, 04/06/2002 (Agence Europe) - The Governing Council of the European Investment Bank (EIB), which met on Tuesday in Luxembourg, decided to increase the capital of the EIB from EUR 100 to 150 billion as of 1 January 2003, in order to allow the bank to strengthen support for EU policies and contribute to integrating the countries applying for EU membership. In a press release, the EIB notes that this capital increase was necessary as, in 2003, the rate of its loans and guarantees will reach the statutory limit of 250% of its subscribed capital. When the capital is increased to EUR 150 billion, this statutory ceiling will be around EUR 375 billion, which will allow the bank to develop all its loan activities from 2003 to 2008. The EIB also specifies that the capital paid will rise from EUR 6 to 7.5 billion without Member States having paying additional amounts, since this rise of EUR 1.5 billion will be financed by conversion of its additional reserve.