Economy received €1bn support in 2009 from EIB

THE European Investment Bank provided €1 billion in financial support to the economy in 2009 more than double the 2008 figure that it contributed to infrastructure and SME projects in 2008.

It also said it would reinforce support for small and medium-sized businesses in close co-operation with the country’s banks including AIB and Bank of Ireland.

Of the €260 million it allocated for the SME sector last year two-thirds of the funding has been drawn to date. That wasn’t unusual, despite the current climate, said Plutarchos Sakellaris, EIB vice president responsible for Ireland, at a news conference in Dublin.