| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : EU Economy Last Updated: Feb 17, 2012 - 8:41 AM

European Investment Bank funding for SMEs hit record in 2011; Loans for Irish projects were at €475m - - at €2.5bn in 2007/2011
By Finfacts Team
Feb 17, 2012 - 8:35 AM

Email this article
 Printer friendly page
EIB president Werner Hoyer speaking at a press conference, Brussels, Feb 16, 2012.

European Investment Bank funding for small and medium-sized enterprises (SMEs) reached a record level in 2011 as the EU's bank, which was founded in 1958, said it remained firmly focused on its mandate to support the real economy. Loans to Ireland amounted to 475m in 2011 and at €2.5bn in 2007/2011.

The Irish loans included funding to AIB and Bank of Ireland to provide loans for SMEs. ESB and University College Dublin projects were also funded. 

During 2011, the EIB  provided €13bn of finance for SMEs. Overall more than 120,000 SMEs received EIB  support across Europe last year. The bank said SMEs account for more than two thirds of private sector employment in Europe and grow more quickly than larger firms, making them an important source of new jobs. However, their size also makes them more vulnerable in times of crisis as they have more difficulty accessing finance in adverse economic circumstances. 

The funding provided in 2011 reflects the exceptional level of SME loan contracts the EIB concluded with partner banks in 2009/10 and the efforts made by the EIB and the European Investment Fund to reach micro enterprises, another important mechanism for getting people out of unemployment.

EIB president Werner Hoyer said at a press conference in Brussels on Thursday: “The EIB will continue to support both growth and job creation in €ope and beyond. Many countries are facing huge challenges and as the EU bank we are here to support them with financing of sound projects, combining EIB loans with EU grants and providing technical advice for preparation of projects. In short, the EIB is maintaining its support for the real economy with lending, blending of resources and advising.”

During 2011, the EIB signed €61bn of new loans in almost 70 countries. €54bn was provided for projects within the European Union and €7bn outside. The EIB managed to extend its highest-ever financial contribution to the real economy by disbursing €60bn.

Support for projects that reduce carbon emissions rose to 30% of total lending, providing €18bn for climate action. This included €5.5bn for renewable energy investment, €1.3bn for energy efficiency and €8bn for sustainable transport.

Lending outside the EU exceeded €7bn, with half dedicated to pre-accession countries. The EIB plays an important role in the Deauville Partnership launched in May by the G-8 to support democratic and economic transition following the Arab spring. Loans worth almost €1bn were signed in 2011 for private sector development and the acceleration of infrastructure projects in the region. Signatures in the EU’s Eastern neighbours reached a record €800 million.

Under the bank’s strategy to maintain its financial strength through a gradual return to pre-2008 lending levels, lending for new operations in 2012 is planned to decrease to €50bn.

The EIB said in line with the informal European Council conclusions of 30 January, the bank’s main priority for 2012 will remain supporting sustainable EU growth and jobs. The focus of EIB financing outside the EU will be on pre-accession countries and the EU’s Eastern and Southern countries.

Presentation slides [pdf]

List of financing operations in 2011

Check out our new subscription service, Finfacts Premium , at a low annual charge of €25 - - if you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to support the service.

It's a simple fact that in the prevailing economic climate, the provision of high quality content cannot be sustained through advertising alone. 

Business executives who put a premium on time and value high quality information, should use our service.

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

EU Economy
Latest Headlines
Spain's strong recovery to slow in the next few years
Italy's Mezzogiorno is Achilles' heel of Euro Area - lowest birth rate since 1862
Euro Area GDP grows at weak 0.3% in Q2 2015
German GDP up 0.4% in Q2 2015; France's GDP stagnates
Germany's Surplus: Lots of critics; Credible solutions scarce
Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
High EU youth unemployment rate not as bad as it seems
Eurozone retail PMI surges to highest since January 2011
ECB monetary policy still tight for Southern Europe
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Eurozone manufacturing sector continued to expand in July
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
German car firms boost exports from Spain, UK, Portugal, Czech Republic, Slovakia, Hungary and Romania
Flash Eurozone manufacturing/ services PMI close to four-year high despite Greek crisis
Krugman calls euro a Roach Motel; Hotel California gets 1-star grade
Greece & Euro Crisis: July 2015 articles from Finfacts
Greece and other poor countries in Euro Area will not become rich
Euro Area manufacturing/ services PMI hits four-year high in June
Western European car market: Recovery continues
Greece could become a failed state like Venezuela
Multinational companies pay on average 30% less tax than domestic competitors in EU
EU's list of 30 tax havens omits the biggest 4 in Europe
China to invest in Juncker's European investment fund
Greek talks collapse; Game theorists gambling with future — Germany's vice-chancellor
German exports and industrial production in strong rises in April
Tackling Inequality: Scandinavian countries have the most successful welfare systems in Europe
Eurozone unemployment fell by 130,000 in April 2015 — down 849,000 in 12 months
Eurozone service sector business activity slowed during May
German 2015 GDP forecast cut; Jobless level at 24-year low
Eurozone manufacturing in modest acceleration in May
FDI into Europe at record in 2014; UK on top: Germany location for future investment
Eurozone economy loses growth momentum; Jobs growth rises
Athens leak suggests Juncker has plan for Greece
Draghi will not end QE early but warns of risks
Eurozone grows faster than US and UK in Q1 2015
German GDP at slower pace, France faster in Q1 2015
Germany may cut income tax; Germans still shun risky investments
Germany had record exports and imports in March 2015