Luxembourg, 27/11/2007 (Agence Europe) - The European Investment Bank (EIB) has opened its regional office for the Pacific in Sydney, Australia. The representation will serve 15 countries and four Overseas Countries and Territories (OCTs) in the region. The opening marks the completion of a series of five EIB external offices in the African, Caribbean and Pacific (ACP) countries where the Bank provides financial and technical assistance alongside the European Commission.
The principal role of the Sydney office will be to help develop EIB operational activities in the Pacific, previously limited by travel distances and time differences in relation to EIB headquarters in Luxembourg. The positioning of the office in Sydney will facilitate communication and coordination links not only with potential project promoters, but also with other donors based in the region, such as the European Commission delegations, the World Bank/IFC and the Asian Development Bank, as well as AusAID and NZAid. As such, the EIB will be able to strengthen and deepen the strategic role it plays in contributing to sustainable economic growth in the region. (O.L.)