Member states approve €10 billion capital increase for EIB

The European Investment Bank confirmed on the 8 January 2013 that its shareholders (the 27 EU Member States), had unanimously approved a €10bn capital increase. The capital increase would allow Europe’s long-term lending institution to provide up to €60 billion, over a 3 year period, in additional lending for economically viable projects across the European Union.

In early 2012 the European Council asked the European Investment Bank to examine how to increase support for growth and the June 2012 European Council recommended that the bank’s capital be strengthened to allow an increase in lending activity. Unanimous support for increasing the paid-in capital of the EIB was reached following detailed examination of proposals for increased lending activity by the 27 EU member state shareholders.

• Primary Source

ESO: Background information: France and Italy unite on euro crisis plan / France seeks eurozone stability package / Merkel warns on French economy http://www.europeansources.info/record/france-and-italy-unite-on-euro-crisis-plan-france-seeks-eurozone-stability-package-merkel-warns-on-french-economy/

EIB: Press Release, 08.01.13: EIB capital increase approved by all 27 EU member states http://www.eib.org/infocentre/press/releases/all/2013/2013-002-eib-capital-increase-approved-by-all-27-eu-member-states.htm

European Commission: Rapid: SPEECH/13/390: Investing for growth: comments in the EP budget committee discussion on the EIB's capital increase http://europa.eu/rapid/press-release_SPEECH-13-390_en.htm

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