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European Investment Bank

European Investment Bank

This is a state institution of the European Union, which deals with the financing of backward European regions. Assistance is provided in the form of long-term loans.

Description

It was established in 1958 with the aim of providing loans for the construction and reconstruction of facilities that are of interest to the EU countries. The authorized capital is formed from the contributions of the participating countries and amounts to 248.8 billion euros. The Bank provides loans and guarantees for the implementation of such projects:

  • development of underdeveloped regions;
  • aimed at the modernization or transformation of enterprises or the development of new activities that have contributed to progress towards the creation of a common market;
  • which are of common interest to several Member States which, due to their scope or nature, cannot be entirely financially separate Member States.
  • By issuing bond loans in the international money market and in the national money markets of the countries of the European Union, the attracted funds of the bank are formed.

The governing bodies of the European Investment Bank are the Board of Governors, the Directorate and the Board. The Governing Council is made up of EU finance ministers. He determines the general credit policy, considers and approves annual balance sheets, and makes changes to the authorized capital. When setting interest rates, the Directorate decides on raising funds, providing loans and guarantees. Operational management is carried out by the President and his five deputies. The location of the European Investment Bank is the European Quarter of Luxembourg.

Features of issuing loans

For profitable projects, regular loans are provided, for low-profit projects - preferential ones. Up to 70% are loans for regional development of less developed areas. The total amount of loans granted is 77 billion euros (in 2014). Bank loans cover part of the cost of the project, supplementing the borrower's own capital (usually less than 50%).

Spheres of use of credits — first of all power, transport and telecommunications. The European Investment Bank also provides preferential loans at the expense of EU funds as a technical manager. Bank loans are provided in several currencies. The interest rate on "mixed" loans is determined on the basis of the weighted average cost in funds raised in these currencies in international or national capital markets.

Timeline

April 30, 2021
European Investment Bank issues a €100 million digital bond offering on the Ethereum blockchain.

Patents

Further Resources

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News

Title
Author
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July 5, 2021
WebWire
, , , , • E-Distribuzione, a company of the Enel Group, and the European Investment Bank have signed off the first 300 million euro tranche of a "Sustainability-Linked" loan totaling 600 million euros , , • This is EIB's first sustainability-linked loan agreement, relating to Enel reaching its goal to reduce direct greenhouse gas emissions (Scope 1), in line with United Nations Sustainable Development Goal (SDG) 13 (Climate Action) and the Group's Sustainability-Linked Financing Framework , , •...
Michael Cogley
May 28, 2021
Business Insider
Tesla and China have dominated the electric vehicle industry for years but Europe is investing heavily in making sure it isn't left behind.
Research and Markets
May 21, 2021
www.prnewswire.com:443
/PRNewswire/ -- The "Security Printing Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering. The global security...
IRRAS
May 4, 2021
www.prnewswire.com:443
/PRNewswire/ -- "During Q1, the global installed base for IRRAS products increased; the total number of IRRAflow systems increased from 73 to 84 and...
Harry Robertson
April 28, 2021
markets.businessinsider.com
Major institutions such as the European Investment Bank have reportedly been drawn to the Ethereum network.
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References

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