- Total financing under the European Fund for Strategic Investments (EFSI) in UK amounts to €2.3 billion and is set to trigger €21 billion in additional investments
Infrastructure and innovation projects
- 23 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €1.6 billion total financing
- set to trigger €17 billion in investments
Small and medium enterprises (SMEs)
- 18 approved agreements with intermediary banks or funds financed by European Investment Fund (EIF) with EFSI backing
- €636 million in financing
- set to trigger approximately €3.8 billion in investments with some 2,979 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of EFSI-backed projects in the UK
- EFSI-backed financing: €69 million
- set to trigger total investment: €856 million
The EIB is lending £60 million for the purchase of new trains in East Anglia to improve passenger services on key London, intercity, airport and local services. The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently in use.
Slumbersac is an SME which manufactures sleeping bags for children. With an EFSI-backed loan, the company has relocated to a bigger warehouse and is aiming to expand its sales to new markets such as Canada, Japan and India.
- EFSI-backed financing: €314 million
- set to trigger total investment: €1.6 billion
The EIB is providing €314 million for the Galloper Wind Farm to be constructed 27 km off the Suffolk Coast. Once operational the offshore wind farm will be capable of providing enough clean energy to supply up to 336,000 homes from 56 of the world’s largest wind turbines. The renewable energy project is set to create over 700 jobs during construction and nearly a hundred once operational.
- EFSI-backed financing: €48 million
- set to trigger total investment: €2.1 billion
The EIB is lending €515 million to Calvin Capital to install more than 7 million smart meters in the UK. Smart meters help reduce energy use and lead to households saving money.