{"id":66398,"date":"2016-01-14T10:30:59","date_gmt":"2016-01-14T10:30:59","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=c91f109714e76fa261e807c6e4123949"},"modified":"2016-01-14T10:30:59","modified_gmt":"2016-01-14T10:30:59","slug":"news-story-new-figures-show-record-european-investment-bank-investment-in-uk-in-2015","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=66398","title":{"rendered":"News story: New figures show record European Investment Bank investment in UK in 2015"},"content":{"rendered":"
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Figures published today (Thursday 14 January 2016) by the European Investment Bank (EIB<\/abbr>) show that investment by the EIB<\/abbr> in the UK increased to \u20ac7.77 billion in 2015, up 10.8% on the previous year\u2019s lending. EIB<\/abbr> loans fund vital infrastructure upgrade projects such as important transport links, and new hospitals and schools, as well as boosting UK-based research and development work that contributes directly to the growth of the UK economy.<\/p>\n

Investment in the UK accounted for 11.2% of all EIB<\/abbr> lending into the 28 EU member states. Since 2012 the UK has more than doubled the volume of EIB<\/abbr> investment and increased its share of total lending within the EU by over a third (37%).<\/p>\n

2015\u2019s EIB<\/abbr> investment includes the new European Fund for Strategic Investments (EFSI<\/abbr>), which was established earlier this year by the EIB<\/abbr> and the European Commission to enable the EIB<\/abbr> to undertake additional lending and boost private-sector investment. UK projects received \u20ac972 million through the EFSI<\/abbr>, one third of all EFSI<\/abbr>-supported lending in 2015.<\/p>\n

EIB<\/abbr> lending in 2015 continued the trend of the past five years by primarily targeting infrastructure, particularly in the key strategic areas of the energy, transport and water sectors, which received 67% (\u20ac5.2 billion) of the year\u2019s EIB<\/abbr> financing. 2015 also saw EIB<\/abbr> support for UK education projects in the UK more than doubling, including a series of loans to fund the building of new schools and university campus investment.<\/p>\n

Commenting on the EIB<\/abbr> figures, Chancellor of the Exchequer George Osborne said:<\/p>\n

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Over the past few years the government has focused on increasing the UK\u2019s share of EIB<\/abbr> loans, and this is paying off with record levels of investment. 2015\u2019s record lending builds on our strong record of securing EIB<\/abbr> investment to help grow our economy and is a vote of confidence in the UK and our economic plan.<\/p>\n

The infrastructure, education and research and development projects funded by these loans support jobs, growth and living standards. They are making a real change to people\u2019s lives and will ensure that Britain is fit for the future.<\/p>\n<\/blockquote>\n

The largest EIB<\/abbr> UK investment in 2015 was a \u20ac1.4 billion (\u00a31 billion) loan to Transport for London to finance the upgrading of existing lines and stations on the London Underground, as well as the construction of a network of cycle paths in the capital. Other UK-based investment from the EIB<\/abbr> has targeted a variety of sectors across the UK. These include:<\/p>\n