World’s richest bank invests in employment and quality of life

STRANGE as it may seem the world’s richest bank uses words like sustainability, creating employment, preserving the environment and improving the quality of life.

The phrases are not just the feel-good factor in its annual report. They are an essential part of the brief from its owners the member states of the European Union.

Just last week the European Investment Bank announced its latest loan €115 million to underpin development at Cork Airport. Other recent loans went to the new Maritime College, Luas, €200m for the ESB and €150m for small and medium-sized Irish industry.