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European Investment Bank (EIB) is the European Union's financing institution |
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 European Investment Bank agrees up to EUR 13 million backing for West Macedonia waste plant European Investment Bank agrees up to EUR 13 million backing for West Macedonia waste plant
The European Investment Bank has agreed to provide up to EUR 13 million for a new waste facility to be built in Western Macedonia, to treat solid waste in the region.
The European Investment Bank has agreed to provide up to EUR 13 million for a new waste facility to be built in Western Macedonia, to treat solid waste in the region.
The project is promoted by DIADYMA SA, the regional waste management body. It concerns the construction and operation of solid waste treatment, disposal and transfer facilities for residual waste generated in Western Macedonia, and will serve a population of approximately 285 000.
The borrower and concessionaire for the West Macedonia solid waste management PPP project will be a special purpose company the shareholders of which are Aktor Concessions SA and Helector SA.
Since the start of the economic crisis in 2008 the EIB has provided more than EUR 11 billion for investment in projects and in support for small and medium size enterprises in Greece.
The European Investment Bank (EIB) is the European Union's financing institution. Its shareholders are the 27 Member States of the Union, which have jointly subscribed its capital. The EIB's Board of Governors is composed of the Finance Ministers of these States. The EIB's role is to provide long-term finance in support of investment projects.
Inside the European Union the EIB supports the EU's policy objectives in the following areas:
- small and medium-sized enterprises: stimulating investment by small businesses.
- cohesion and convergence: addressing economic and social imbalances in disadvantaged regions.
- the fight against climate change: mitigating and adapting to the effects of global warming.
- environmental protection and sustainable communities: investing in a cleaner natural and urban environment.
- sustainable, competitive and secure energy: producing alternative energy and reducing dependence on imports.
- the knowledge economy: promoting an economy that stimulates knowledge and creativity through investment in information and communication technologies, and human and social capital.
- trans-European networks: constructing cross-border networks in transport, energy and communications.
In 2010, some 88% of the total EIB financing of EUR 72 billion went to projects in the EU.
Outside the EU, the EIB is active in over 150 countries (the pre-accession countries of South-East Europe, the Mediterranean partner countries, the African, Caribbean and Pacific countries, Asia and Latin America, and Russia and other neighbours to the East), working to implement the financial pillar of EU external cooperation and development policies (private sector development, infrastructure development, security of energy supply, and environmental sustainability).
The EIB, the largest international non-sovereign lender and borrower, raises the resources it needs to finance its lending activities by borrowing on the capital markets, mainly through public bond issues. Its AAA credit rating enables it to obtain the best terms on the market. As a not-for-profit institution, the EIB passes on this advantage in the terms it offers to the beneficiaries of its loans in both the public and private sectors.
The EIB works closely with the other EU institutions, especially the European Parliament, the European Council and the European Commission. The European Investment Fund is a subsidiary of the EIB.
Mission
Our Mission is to further the objectives of the European Union by making long-term finance available for sound investment.
We are at the service of the Union.
We were created by the Treaty of Rome; our shareholders are the Member States; and our Board of Governors is composed of the Finance Ministers of these States.
We provide service and value-added
through our appraisal and follow-up of investment projects and programmes.
To receive our support, projects and programmes must be viable in four fundamental areas : economic, technical, environmental and financial. We appraise each investment project thoroughly and follow it through to completion.
through our financing.
Through our own lending operations and our ability to attract other financing, we widen the range of funding possibilities. Through our borrowing activities, we contribute to the development of capital markets throughout the Union.
We offer first-class terms and conditions.
Our financial soundness derives from the strength and commitment of our shareholders, the independence of our professional judgements and our record of achievement. It enables us to borrow at the finest terms, which we pass on in our lending conditions.
We work in partnership with others.
Our policies are established in close coordination with the Member States and the other Institutions of the European Union. We also cooperate closely with the business and banking sectors and the main international organisations in our field.
We attract qualified and multi-lingual staff from all the Member States.
We are motivated by our direct participation in the construction of Europe.
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