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EIB provides 170 mln euros for transport network in Germany

English.news.cn   2014-08-27 21:42:06

BRUSSELS, Aug. 27 (Xinhua) -- The European Investment Bank (EIB) is providing some 170 million euros (224 million U.S. dollars) for a European transport network in Germany, according to a European Union (EU) statement on Wednesday.

The operation will finance the main road link between Denmark and Germany, namely the A7 motorway.

Part of the trans-European road network, the A7 is a key component of Europe's transport network, the statement said. The project is one of the pilot projects for credit enhancement under the EU’s 2020 Project Bond Initiative.

EIB Vice-President Wilhelm Molterer stated that the conclusion of the financing agreement sends an important signal to private investors in particular. “To make Europe's infrastructure competitive, investments of a scale that cannot be effected by the public sector alone are required," he said.

The project will be implemented as a public-private partnership (PPP) in the German transport sector.

The EIB is the long-term lending institution of the EU and its shareholders are the EU member states. Its remit is to make long-term finance available for viable projects in order to contribute towards EU policy objectives.

Editor: Shen Qing
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