EIB environment report published

Date: 20/02/03

THE European Investment Bank (EIB) has published its first ever environment report.

Released with its annual review of activities on 13 February, it is partly a response to criticism from non-governmental organisations in EU candidate countries alleging poor environmental oversight of loans for major infrastructure projects.

In 2001-2002 the EIB disbursed €17.9 billion for environmental purposes, although this is broadly defined to include, for example, certain types of road projects.

The EIB aims to spend between a quarter and a third of its funds on projects with environmental objectives, and said in the report that its figures for 2002 "amply met this target with 44% in the EU and 41% in the accession countries".

In 2002, individual loans for environmental projects in the EU amounted to €9.3 billion, 56% more than in 2001, the bank said.

In the candidate countries, that same figure was a more modest €900 million, with urban renewal, water and waste water projects and waste management topping the agenda.

Some €460 million in loans also went to the Czech Republic for reconstruction schemes after torrential floods ripped through Prague last August.

The European Investment Bank has published its first ever environment report, 13 February 2003.