Extracts from the presentation of the EIB annual report by Werner HOYER, President of the EIB and Philippe de FONTAINE, Vice President of EIB

Type: News   Reference: 93232   Duration: 00:03:42  Lieu: European Investment Bank , Justus Lipsius press room, Brussels
End production: 28/02/2013   First transmission: 28/02/2013
The European Investment Bank (EIB) gives an exceptional response for exceptional times in the on-going financial and economic crisis of the European Union. The EIB Group will significantly step up its lending activities for the 2013 to 2015 period to support the recovery of growth in Europe. The EU Bank will lend an additional EUR 60 billion over the next three years to promote sustainable growth and jobs, bringing annual lending volumes to EUR 65-70 billion. This follows the Member States’ 2012 decision to increase the EIB’s paid-in capital by EUR 10 billion. Werner Hoyer, EIB President commented: “Last year the EIB has delivered on changing its course fundamentally from a programmed cyclical to a countercyclical course. We are now prepared to deliver on boosting our lending activities by 40% per year from 2013-2015 and thus making an extraordinary effort in theses exceptional times for Europe. The EU Bank will be making a significant and tangible contribution to overcoming the current crisis.” It is expected that the additional EIB lending will initiate projects worth up to EUR 180 billion including private and public investments, focussing on innovation, SME´s access to finance, resource efficiency and strategic infrastructure. President Hoyer stated: “Investing in innovation and skills is crucial for Europe’s productivity and will help secure competitiveness and jobs in the future.”

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00:00:00 Title 00:00:05
00:00:05 General view of the speakers 00:00:05
00:00:10 SOUNDBITE by Werner Hoyer, President of the EIB (In English) saying that: We have received a very strong commitment from the member states and they are the shelters of the bank, when they decided to provide 10 billion Euros in cash for a capital increase of EIB, practically doubling the paid-in capital of the bank because you might know that the balance sheet are used to show 232 billion Euros of capital but unfortunately until then the member states had only paid in 11 billion in cash. 00:00:38
00:00:48 Cutaway of the audience 00:00:03
00:00:51 SOUNDBITE by Werner Hoyer (In English) saying that: We have now the opportunity to provide an annual loan signatures volume of 65 to 70 billion Euros for the next 3 years. We need to be a little bit flexible, one could try to be too precise and say 66, 67, 68 or something like that: This is nonsense. We need certain flexibility so all in all if you put this together, it is going to be up to 70 billion a year of long term finance for innovation and skills, infrastructure projects, resource efficiency, SME's as well as the support of the EU external priorities 00:00:46
00:01:37 Cutaway of a photographer 00:00:03
00:01:40 SOUNDBITE by Werner Hoyer (In English) saying that: More than 1/3 of the capital raised comes from Asian sources and very limited amount from Middle East, Africa and from the Americas. That is a little bit an indication of the fact that the trust into Europe has not completely disappear, the opposite is true. If you look at the flows of capital and here I'm talking about EIB of course, you can add ESM as well and other things which we do in the EU, the trust in Europe is still there; we should do everything to preserve it. 00:00:38
00:02:18 Cutaway of the audience 00:00:03
00:02:21 SOUNDBITE by Werner Hoyer (In English) saying that: We have focused considerably on the program countries: Ireland, Greece and Portugal. Our contribution there last year was I think highly appreciated. We designed a first pilot project for Greece for trade finance and the board of the bank approved a 500 million Euros facility to support a volume of trade worth some 1.5 billion a year. We expect this newly set up facility to be fully operational the next months and support the export-led for growth. 00:00:38
00:02:59 Cutaway of the audience 00:00:03
00:03:02 SOUNDBITE by Philippe de Fontaine, Vice President of EIB (In English) saying that: We have lent close to 9 billion Euros to this innovation sector and it is quite important for us to give you some examples because this has been a turn around for EIB. As shown previously you can see that from these 9 billion we have lent 20% of activity to this sector but with the commitment given by the capital increase we will aim at increasing this up to 25% of our portfolio. 00:00:32
00:03:34 Speakers leaving the press room 00:00:08
00:03:42 End 00:00:00
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