EU approves €10bn capital rise for viable projects

The European Investment Bank has said its shareholders, the EU's 27 member states, have unanimously approved a €10bn capital increase, as agreed by national leaders last year.

The Luxembourg-based EIB said the capital increase will enable it "to provide up to €60bn, over a three-year period, in additional lending for economically viable projects across the European Union".

In a statement, EIB President Werner Hoyer said the boost "demonstrates a shared desire to support investment that will create jobs and contribute to economic growth in Europe."

It comes as unemployment across the Eurozone hit a record high of 11.8% for November.

Email Updates

Receive our lunchtime briefing straight to your inbox

More in this Section

Consultation announced on possible relocation of Channel 4 outside London

KitKat adds extra milk and cocoa in drive to reduce sugar

Tougher laws, said to be 'probably illegal' by transport minister, pushes Uber out of Denmark

Funding secured for €125m City Quay office development in Dublin's docklands


Today's Stories

Profits on the rise for Galway hat designer Philip Treacy

Ireland needs to stick with policies in face of Brexit turmoil

Plea for major road funds - €5m could kickstart Cork to Limerick motorway

Ladbrokes sees 3% underlying rise in Irish revenues

Lifestyle

Are left-handed people in their right minds?

Liz Bonnin gets a 'sobering reminder' of the power of nature in series on the Galapagos

There's little help or understanding about Lyme disease in Ireland

More From The Irish Examiner