News

EIB to invest USD 20 bn in the Middle East

20 de maio de 2016

São Paulo – The European Investment Bank (EIB) announced this Friday (20th) that over the next five years it plans to roll out 17.5 billion euros (USD 19.7 billion) in investment in the Middle East and North Africa, Turkey, and the Western Balkans, the Kuwaiti news agency Kuna has reported.

The European Union-run bank will also establish a micro-financing line worth 71.5 million euros (USD 80.2 million) focusing primarily on projects in Lebanon and Jordan, which are seeing a massive inflow of refugees fleeing the civil war in neighboring Syria.

According to Kuna, currently, the Luxembourg-based EIB has 36 billion euros (USD 40 billion) invested in the Middle East and North Africa, Turkey and the Western Balkans.

The news outlet also said the EIB is the most active institution in the Mediterranean.

*Translated by Gabriel Pomerancblum