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IN THE SPOTLIGHT
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EIB financing in the EU’s Eastern Neighbourhood - FactsheetBy mid-October 2013, EIB lending in the Eastern Neighbourhood had reached a total of EUR 4.0 bn, financing 48 investment projects or providing credit lines to support SMEs in all five Eastern Neighbourhood countries that have signed a Framework Agreement with the Bank. In line with its EU mandate providing for EIB financing of up to EUR 3.85 bn for the period 2007-2013, EIB activity focuses on the development of economic and social infrastructure (including transport, energy, environmental infrastructure, information and communication technology, and the social sector) and support for small and medium-sized enterprises (SMEs) in all sectors. In 2009, the EIB approved its first loans for SMEs via partner financing institutions in the region, and in March 2013, it extended its first loan for SMEs in Russia, in support of the EU Russia Partnership for Modernisation. By mid-October 2013, the amount of loans for SMEs in the region had reached EUR 1.4 bn. The EIB is the bank of the European Union. Founded in 1958 under the Treaty of Rome, it operates in the 28 EU Member States and more than 130 other countries. In 2012, it signed loans totalling EUR 52 bn. 86% of its financing went to projects within the Member States and 14% to projects outside the EU, where the Bank supports projects that contribute to economic development in countries that have signed association or cooperation agreements with the EU or its Member States. It does so at own risk to its balance sheet, under mandates from the European Parliament and Council of the European Union or using budgetary funds provided by Member States or by the EU budget. The EIB is the largest supranational borrower and lender in the world and the only international financial institution politically accountable to EU policymakers and institutions. |
Project funded by the European Union
