Ireland to receive €1bn EIB support in 2020
The European Investment Bank expects to provide more than €1 billion to support new COVID-19 and Brexit business financing programmes, climate action, and education investment in Ireland in 2020. The bank will work closely with Irish authorities to implement the National Recovery Plan.
In the coming weeks the EIB is expected to confirm significant support for new higher education and student housing, energy efficiency and cultural EIB investment in Ireland.
The lender is currently in discussions to finance development of offshore wind energy schemes in Irish waters and the Celtic Interconnector electricity link between Ireland and France. The EIB will share technical expertise and financial best practice to support SME financing, social housing, energy efficiency, sustainable transport and innovation support expected to be included in the National Recovery Plan.
The announcement follows a record €1.1 billion of support in 2019 that backed social housing, clean transport, climate action, education, agribusuiness, innovation, regional development and SME investment across the country.
