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.