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

Survey predicts the proportion of the workforce that will move in 2017

Index shows Irish construction ended 2016 on a high with firms 'strongly optimistic'

IBEC seeks bending of State aid rules

Pound slumps to three-month low against dollar after 'hard Brexit' reports


Today's Stories

Revenue should treat taxpayers equally

The world’s elite need to listen before it’s too late

Lifestyle

Peter Dowdall examines early growth at the garden of Hester Forde

Meet eight Irish heroes who stood out in 2016

Forget about Blue Monday - it was made up by a holiday company to sell winter breaks

Margo Price is wearing her heart on her record sleeve

More From The Irish Examiner