EIB to lend 8.68 billion to candidate countries

The EIB will lend up to 8.68 billion under its 2000-2007 mandate to ten accession candidate countries and three Balkan states.

The

European Investment Bank(EIB) will lend up to 8.68 billion under its 2000-2007 mandate to the ten accession candidate countries and three Balkan states which do not yet have candidate status: Albania, Bosnia-Herzegovina and the Former Yugoslav Republic of Macedonia.

Under EIB’ s second Pre-Accession Facility, the Bank will lend up to 8.5 billion in the Central European Accession countries as well as Cyprus and Malta between 2000 and 2003. While annual lending in Central and Eastern Europe averaged about 1 billion over the last ten years (1990-99), and more than 2 billion over the last three years (1997-99), the new mandate and the Pre-Accession Facility allow for lending of 3 to 4 billion annually over the next four years (2000-2003).

Since 1990, the EIB has lent some 11.6 billion to projects in the ten countries which have applied for EU-membership. The EIB has become the biggest source of international finance for projects in the Accession countries. About half of the amount went to transport projects, including roads and railway schemes in each country. Industrial, environmental and telecommunications projects absorbed around fifteen percent each, while the remaining six percent was lent to energy schemes.

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