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EIB to boost capital investment in Ireland

Written by Robert McHugh, on 30th Nov 2017. Posted in Financial

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The European Investment Bank (EIB) has confirmed broader engagement in new sectors and potential for increased capital investment in Ireland at a conference on investing in the future of Europe. 

The European Investment Bank actively supports projects which contribute to economic growth and provide employment. Since Ireland’s EEC accession in 1973, the EIB has provided more than €15 billion for investment to improve public services and key infrastructure and to unlock new opportunities for Irish companies. Recently, it announced a record financial package of €405 million for social housing. 

Today's conference, co-hosted by the EIB and European Movement, brought together decision-makers from government, public sector and civil society. The audience heard from Andrew McDowell, Vice-President of the EIB, Minister of State at the Department of Finance with special responsibility for Financial Services and Insurance, Michael D’Arcy TD and Minister of State for European Affairs, Helen McEntee TD and alongside a panel of national and international experts.
 
Delivering the keynote address, Vice-President of the European Investment Bank, Andrew McDowell said, "In recent years the European Investment Bank, the world’s largest international public bank, has played a key role backing crucial investment around Europe that contributes to economic growth. This has included support across Ireland during recent challenging times for new schools, improving research at all Irish universities, thousands of new homes, better transport connections, harnessing green energy and revitalising cities, as well as helping thousands of Irish companies to expand activity and create new jobs."

He added, "Discussions hosted by the European Movement in Dublin this week will enable experience from successful investment that has overcome policy challenges elsewhere to be considered and ensure that future investment strengthens sustainable economic growth here in Ireland. The European Movement provides a unique platform bringing together government, business, civil society and academia at a time when future investment in Ireland is threatened by uncertainties of Brexit."

Source: www.businessworld.ie

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