Money Buzz! Europa

Tag: European Investment Bank

  • EUR 470 million to improve road safety at 7,000 accident black spots in Greece

    EUR 470 million to improve road safety at 7,000 accident black spots in Greece

    The European Investment Bank has agreed to support a EUR 470 million nationwide programme to reduce death and injury caused by traffic accidents across Greece.

    Over the next three years, national road operator Egnatia Odos will improve road safety at 7,000 of the most dangerous sites, located across  11 regions of Greece.

    Thus, the small scale safety schemes will include installation of traffic barriers, provision of anti-skid surfaces and improved warning signs and markings on roads identified as high-risk.

    The 15-year, EUR 235 million European Investment Bank loan, to be guaranteed by the Hellenic Republic, represents the first direct financing to Egnatia Odos. since the EIB first supported transport investment in Greece in 1963.

    The EIB loan will support half of the total EUR 470 million road safety investment under the programme.

  • Serbia to digitalize schools with €65 million from EIB

    Serbia to digitalize schools with €65 million from EIB

    The European Investment Bank (EIB) will invest €65 million in the modernisation of primary and secondary schools in Serbia to provide new digital equipment, connectivity, and capacity building training for 50,000 school teachers.

    Schools across Serbia will benefit from modern computer classroom equipment and wireless local area networks, and teachers will be trained to improve their digital skills.

    The project is expected to create up to 700 new jobs.

    The EIB will provide a significant level of technical support in aid of project preparation and implementation.

    To date, the EIB has invested €50 million in the modernisation of Serbian schools, improving the quality of learning conditions for around 28,000 primary and secondary school children in over 200 education facilities in Serbia.

    €200 million has been invested in reviving Serbia’s research and development sector, creating a long-term platform for scientific development in all major areas.

  • EIB invests €120 million in south-eastern Hungary

    EIB invests €120 million in south-eastern Hungary

    The European Investment Bank (EIB) and MVM Hungarian Electricity Ltd. (MVM) have signed a €120 million loan to modernise and expand the electricity supply network in south-eastern Hungary.

    MVM has more than 785.000 customers in Bacs-Kiskun, Bekes, Csongrad-Csanad and Pest counties.

    The project programme covered by the financing consists of the reinforcement of the electric supply network, refurbishment of high, medium and low-voltage substations, overhead lines and underground cables, and the installation of 600 distribution transformers and 210.000 advanced meters.

    Special measures to protect local birds species, developed in cooperation with the Hungarian Ornithological Society, will also be implemented under the investment including the replacement of above-ground power lines with underground alternatives, and the installation of special equipment for bird protection.

  • Ukraine to modernise and digitalise the Ukrposhta postal service

    Ukraine to modernise and digitalise the Ukrposhta postal service

    The European Investment Bank (EIB) and JSC Ukrposhta, Ukraine’s national postal service provider, have signed a €30 million loan to continue the modernisation and digitalisation of the country’s postal services.

    The loan will allow Ukrposhta to start modernising its logistics network with three new sorting hubs, 20 postal depots and IT infrastructure.

    With the loan from the EU bank, Ukrposhta will design and roll out a new, state-of-the-art parcel logistics network, reduce delivery times and improve the overall quality of the postal service for millions of Ukrainians.

    An improved and affordable postal service with reduced delivery times will also improve conditions for doing business in the country (especially for small and medium enterprises).

    The EIB has also provided a technical assistance package to Ukrposhta and assisted in the development of its investment programme.

  • 10.8 kilometers of a main Czech railway line will be refurbished

    10.8 kilometers of a main Czech railway line will be refurbished

    Two years from now, trips from Czechia to Poland by train will become faster, safer and greener after a refurbished section from Dětmarovice to the Czech-Polish border, via Petrovice u Karviné.

    The project is part of an investment programme aiming at removing bottlenecks along the main railway corridors in the Czech Republic, co-financed by a Connecting Europe Facility (CEF) grant and EIB loan.

    It comprises the modernisation of eight railway sections located on the core network corridors of the country.

    In total, 10.8 kilometres of the railway line will be refurbished for an investment cost of nearly CZK 3 billion.

    The reconstruction project officially started on 25 September 2020

    Along with an electrified double-track section on the transit railway corridor from Dětmarovice to the Czech-Polish border via Petrovice u Karviné, the single-track connection between the Závada and Koukolná branches will also be renovated, making it possible to travel by train from Poland to Karviná without ‘zig zag’.

    Thanks to the improvement of railway substructure, track structure and bridges, trains will no longer have to slow down from 100 to 65 kph in the Petrovice u Karviné station.

    State-of-the art safety equipment will be installed along the entire section, including the stations and railway crossings.

    The project will also include the reconstruction of the overhead lines and installation of new lines where needed. The power supply station in Petrovice u Karviné will also undergo refurbishment, thus improving its energy efficiency.

  • Slovenská pošta to digitalize its services with a €32 million loan from EIB

    Slovenská pošta to digitalize its services with a €32 million loan from EIB

    The European Investment Bank (EIB) signed a €32 million loan with Slovenská pošta, the Slovak public postal operator.

    Through this investment, EIB will contribute to the digitalisation and innovation of Slovenská pošta’s services and operations with the financing of new IT systems as well as specialised postal equipment, such as parcel sorting lines and digitally integrated parcel boxes.

    The project is part of Slovenská pošta’s investment programme 2018-2021 to digitalise and transform its operations and portfolio of services.

    Slovenská pošta has been active on the Slovak postal market for 25 years. In addition to ensuring the provision of universal postal services, Slovenská pošta is a leading provider of modern distribution and payment services on the domestic market.

  • BNP Paribas Bank to fund energy efficiency projects from Polish homeowners

    BNP Paribas Bank to fund energy efficiency projects from Polish homeowners

    The European Investment Bank (EIB) has signed a PLN 71.2 million (EUR 16 million) guarantee agreement with BNP Paribas Bank Polska to support the financing of energy efficiency projects from Polish homeowners, micro-farmers, and housing associations.

    The guarantee will help BNP Paribas Bank Polska to provide, under the agreement with the EIB, PLN 742 million (EUR 166.7 million) of new financing for energy efficiency projects.

    The banks estimate that around 15.000 clients will benefit from the project.

    The increased use of renewable energy is one of the key objectives of the Polish authorities and the European Union.

    The programme can support the installation of renewable energy sources in individual homes and micro-farms, as well as finance the comprehensive energy refurbishment of multi-home apartment buildings.

    Measures that are eligible for this financing include solar photovoltaic installation for private homeowners and micro-farmers and a wide range of energy efficiency measures for multi-apartment buildings, such as energy efficient windows or facades, heating and ventilation systems, renewable energy sources integrated into the buildings and other measures.

  • Robotics company Magazino closed a €21 million Series B financing round

    Robotics company Magazino closed a €21 million Series B financing round

    The robotics company Magazino has closed a Series B financing round of €21 million. Jungheinrich AG and the European Investment Bank (EIB) are leading the round, with existing investors also participating.

    The capital raised will be used to expand international sales activities and to accelerate the expansion of the ”ACROS.AI” software stack –a software platform for intelligent robots developed by Magazino that is also used on third-party hardware.

    At the same time, Jungheinrich and Magazino agreed on a broad strategic cooperation and intend to combine their skill sets in the field of mobile automation.

    In addition to the investments made by the existing shareholders and Jungheinrich AG, the European Investment Bank (EIB) is providing Magazino GmbH with financing of up to €12 million.

  • European Investment Bank, loan for affordable housing in Szczecin

    European Investment Bank, loan for affordable housing in Szczecin

    Szczecin has become the second Polish town to receive a loan from the European Investment Bank (EIB) to finance a municipal development plan for social and affordable housing.

    The EIB has agreed to lend up to PLN 85 million (approx. €20 million) to two housing companies owned by the City of Szczecin for the construction and renovation of 250 social and affordable housing units (169 new and 81 renovated) and associated underground parking facilities.

    Szczecin loan includes two financing parts

    Up to PLN 58.25 million (approx. €13.7 million) was signed with Szczecińskie Towarzystwo Budownictwa Społecznego (STBS) and up to PLN 26.25 million (approx. €6.1 million) was signed with Towarzystwo Budownictwa Społecznego Prawobrzeże (TBSP).

    For the first time in social and affordable housing projects financed by the EIB, a specific focus on green infrastructure has been included in the operation.

    Thus, a separate PLN 3.4 million loan (approx. €0.8 million) was signed with Szczecińskie Towarzystwo Budownictwa Społecznego (STBS) to finance the integration of green roofs, urban farming plots, rainwater collection systems and other green elements.

    Before Szczecin, the EIB had signed two loans in this sector with two municipal companies in Poznań. Such loans financed the construction and renovation of over 2.300 social and affordable housing units in the capital of the Wielkopolska Region.

  • Italy: EIB lends €500m to the Lazio Region for post COVID-19 recovery

    Italy: EIB lends €500m to the Lazio Region for post COVID-19 recovery

    A wide-ranging collaboration between the bank of the European Union and the Lazio Region will lead to funding of €500m in all production sectors in the coming years.

    The first operation concerns the Framework Agreement for €300m worth of loans to the Region over the next four years, which has already been signed.

    On the basis of the Agreement, projects aimed at combating climate change, preventing and mitigating risks from hydrogeological instability, improving, building and upgrading public urban and regional infrastructure, and protecting the environment will be eligible under the Regional Multiannual Programme.

    Emergency measures to tackle the COVID-19 pandemic could also be financed in order to contribute significantly to the economic recovery.

    The loans can have maturities of up to 25 years, with a five-year grace period. In addition to financing operations, this cooperation will also enable the Region to benefit from the EIB’s free advisory services and technical assistance.

    This advisory support is already being provided in the preliminary phase of projects for energy efficiency of public buildings and sustainable mobility.

    €200m in partnership with banks for SMEs and mid-caps

    A second operation, which is currently being finalised, is based on initial EIB financing to the Region for projects launched by SMEs (up to 250 employees) and mid-caps (250-3 000 employees) in all production sectors, again with a special focus on investment to tackle the consequences of the COVID-19 pandemic.

    The credit line will be onlent to companies in the Lazio region active in all economic sectors via three intermediary banks selected by the Region following a public tender: UniCredit, BCC Roma and Banca Popolare di Sondrio.

    The three banks will double the EIB’s €100m to a total of €200m, which will benefit an indicative number of 400 businesses based in the Region.

    Loan maturities will be 12 years for private firms and 15 years for investments carried out by public-private companies, with a three-year grace period.

  • UniCredit and the European Investment Bank, 200 million euros for SMEs

    UniCredit and the European Investment Bank, 200 million euros for SMEs

    European Investment Bank will allocate 200 million euros to UniCredit, to lend in turn to SMEs (companies with up to 250 employees) and mid-caps (up to 3.000 employees).

    The new credit line is designed to tackle the current emergency and can be used to fund new investment projects over periods of up to five years and to cover working capital needs.

    The funding is intended for companies all over Italy, in all production sectors: agriculture, handicrafts, industry, commerce, tourism and services.

    The EIB funds can be used for projects with individual costs of up to 25 million euros, and cover 100% of costs not exceeding 12.5 million for each project.

    UniCredit and the EIB have agreed to apply extraordinary eligibility criteria to this credit line for companies.

  • EIB lends up to EUR 10 million to Polish company Scope Fluidics

    EIB lends up to EUR 10 million to Polish company Scope Fluidics

    The European Investment Bank (EIB) has agreed to lend up to EUR 10 million to Scope Fluidics, a Polish medical technology company developing innovative products in the field of medical diagnostics.

    Scope Fluidics uses microfluidic technologies and focuses on rapid characterization of antibiotic resistance of bacteria and on ultra-fast detection of bacterial and viral pathogens (including COVID-19).

    The EIB financing will support the company’s efforts to develop new, efficient and affordable methods for detection of pathogens causing infectious diseases, including COVID-19.

    Apart from striving to aid the fight with COVID-19 pandemic, Scope Fluidics’ team is also focused on the Antimicrobial Resistance (“AMR”), which is one of the gravest threats to global health.

    Testing a broader range of infectious diseases may significantly increase the standard of care and the effectiveness of prevention of complications in the evolving pandemic.