Michael McGrath
Question:179. Deputy Michael McGrath asked the Minister for Finance the current status of the review by the European Investment Bank of its lending criteria; and if he will make a statement on the matter. [8900/14]
View answerTuesday, 25 February 2014
Questions (179)
Written answers
I have been informed by the European Investment Bank (EIB) that there is no review of the Bank's lending criteria currently taking place. However, the EIB did conduct a review of its energy lending policy in 2013. Details of this review are available at the following link: http://www.eib.org/attachments/strategies/eib_energy_lending_criteria_en.pdf. In general terms, the EIB provides loans of up to 50% of the total cost of a project for projects of sufficient size (normally a total cost of €100 million). Following the EIB capital increase in 2012 the Bank is targeting four priority sectors which are innovation and skills, SMEs, clean energy and modern infrastructure. EIB loans to SMEs are channelled through financial intermediaries.