Luxembourg, 24/03/2003 (Agence Europe) - On the occasion of his visit to Finland on 10 and 11 March, Ewald Nowotny, Vice-President of the European Investment Bank (EIB) signed several loan contracts in favour of projects in the country. They concern:
- a global loan signed with Finnvera for the sum of EUR 50 million, intended to increase the productivity and competitiveness of SMEs. Funds will serve to finance SME investment of the industry and services, mainly in assisted regions;
- a global loan of EUR 50 million granted to the Municipality Finance Bank, for financing small and medium scale investment by local authorities, essentially in the fields of energy, infrastructure, urban renovation, the environment, health and education. Municipality Finance was created by local authorities as a non-profit-making body responsible for covering their financing needs at the lowest possible cost;
- a loan of EUR 50 million to the town of Vantaa for renovating and extending urban and educational infrastructure and adjusting it to the changes and to the demographic pressure that the town's continued growth puts on them. As Vantaa is located in the southern Finland, within the Helsinki agglomeration and on the regional, national and international communication routes, it expects rapid economic development. The EIB projects ensure partial financing aimed at supporting the creation of jobs so that the region can offer better working and living conditions;
- a loan of EUR 180 million for a project entitled "Finnish Higher Education Institutions" in order to contribute to the emergence of the knowledge society. It is conform to the current EU guidelines on human capital, the EIB stresses. It will provide teaching installations that meet the needs of modern education, in both buildings and equipment.