EIB opens a regional office in Sydney

by Richard Kilner

Story link: EIB opens a regional office in Sydney

Jean-Louis Biancarelli, a senior executive at the European Investment Bank, has stated that the bank will be opening a regional office in Sydney.

Biancarelli described the move as an important step in more closely integrating the Pacific and European areas during an era when globalisation, environmental concerns and renewable energy are high on the agenda.

Recently the bank lent €3.5 million to a sustainable forest project in the Solomon Islands, and there is speculation that the bank could help ease the economic situation in SW Pacific.

It is 30 years since the EU’s programme of lending to Africa, the Caribbean and Pacific began, with more than 100 loans now afoot in the Pacific region.

Regional office head Jean Philippe de Jong has said that there will be an emphasis on traditional loaning, and an attempt to focus on innovative methods through which financial intermediaries can be supported.

Jean Philippe de Jong has said that small-medium businesses will be focused upon, but bigger ventures, such as the Lihir gold project which was lent €45m, are also supported.

Naturally a significant quantity of the EIB’s lending occurs within the EU area, with much of the remainder spent on the accession countries.