Mozambique: Sena Railway Line Delayed Again Aug 19, 2009
com: Mozambique: Sena Railway Line Delayed Again (Page 1 of 1). Mozambique: Sena Railway Line Delayed Again. (allAfrica.com)
GM seals deal to sell Saab to Koenigsegg Aug 19, 2009
GM said the deal, whose financial details were not disclosed, is subject to a funding commitment for Saab from the European Investment Bank, to be guaranteed by the Swedish government ... "Koenigsegg Group should add more private capital, negotiate about loans with the European Investment Bank, as well as agree with the Swedish National Debt Office about the conditions for potential state credit guarantees," said Joran Hagglund, from the ministry. (USA Today -- Autos)
GM signs binding agreement on Saab sale Aug 18, 2009
"The closure of the deal is contingent on the funding commitment from the European Investment Bank (EIB), guaranteed by the Swedish government," he added. The US automaker said it expected the transaction to be completed by the end of the year. (Sydney Morning Herald -- Opinion)
Tatas seek PSB guarantees Aug 15, 2009
The Tatas have also said the group is close to negotiating commercial arrangements for funding and guarantees for the approved 340-million loan ($562 million) from the European Investment Bank for future product and environmental technology development. Also Read. (India Times)
Boeing and Airbus: Trading blows Aug 14, 2009
In addition to a claimed cumulative benefit of more than $100 billion from launch aid over 20 years, Boeing says that Airbus has also been the recipient of other handouts including funding for roads and runways it relies on and soft loans from the European Investment Bank. Boeing puts the combined value of all the subsidies Airbus has received at $205 billion. (The Economist)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Republic of Lithuania Aug 12, 2009
Financial assistance from the European Investment Bank and a successful 500 million eurobond issue in June helped ease immediate fiscal financing needs, and the latter reopened access to international capital markets. The eurobond also helped to boost international reserves: by end-June international reserves stood at 4. (IMF News)
Jaguar Land Rover secures funding Aug 12, 2009
Tata said it had secured some direct bank loans, as well as guarantees that would allow it access to a 340m European Investment Bank loan. Government funding had been offered but did not materialise, after a failure to agree terms of any cash injection. (BBC News -- Business)
Tata secures private financing for Jaguar Aug 12, 2009
They "expect that the long-term loan from the European Investment Bank of 340m, sanctioned to JLR, can also be successfully secured. "With the positive trend. in financial markets. (Business Report, South Africa)
Tata Motors secures 75m loan for JLR Aug 11, 2009
Simultaneously, they are seeking government guarantee for a 340 million loan offered by the European Investment Bank to develop fuel-efficient technologies. More Stories from this section. (India Times, India)
EIB grants Poland 925 mln euros in loans Aug 3, 2009
WARSAW, Aug. 2 (Xinhua) -- The European Investment Bank (EIB) has awarded Poland a 675-million-euro (945 million U.S. dollars) loan for the financing of research conducted by institutes and universities, the bank has announced. The bank also granted two loans of the total value of 250 million euros for the support of projects implemented by small and medium-sized enterprises (SMEs), the Polish news agency PAP quoted the bank as saying on Sunday. (Xinhuanet, China)
Ukraine May Get $1.7 Billion From International Lenders for Gas Supplies Aug 2, 2009
The European Bank for Reconstruction and Development, the World Bank and the European Investment Bank may give loans to the Ukrainian government and state-run energy company NAK Naftogaz Ukrainy, the lenders said in a with the European Commission and the International Monetary Fund late yesterday. Ukraine, a gas-transit country battered by the global economic crisis and already supported by a $16. (Bloomberg -- Europe)
EU: Ukraine Set for up to $1.7 Billion in Loans Aug 2, 2009
The European Investment Bank will also ready long-term loans of up to $450 million to help pay for upgrading the gas transit system. Ukraine is already getting a $16. (ABC News -- Wire)
Barroso welcomes reform of Ukraine's gas sector Aug 1, 2009
Under an agreement between Ukraine and the European Commission, the European Bank for Reconstruction and Development, the World Bank and the European Investment Bank, the international financial institutions will provide financial support for Ukraine's gas sector reform and help the country overcome the financial crisis ... The World Bank will consider providing budget support to the Ukrainian government while the European Investment Bank is willing to consider sovereign guaranteed long-term... (Xinhuanet, China)
Where money is to be made Jul 31, 2009
We continue to hold a variety of investment grade corporate bonds (seven percent weighting) and supranational bonds (issued by the likes of the World Bank, Inter-American Development Bank or European Investment Bank). Following weakness in May and early June, we added a position in US 10-year treasuries although we closed out the position earlier this month for a gain of over four percent. (iAfrica.com)
EU ready to offer assistance to Belarus Jul 29, 2009
"We are currently therefore considering macrofinancial assistance and the possibility for Belarus to receive EIB (European Investment Bank) and EBRD (European Bank for Reconstruction and Development) loans in the future," she told reporters after a meeting between EU officials and Belarusian Foreign Minister Sergei Martynov. However, she said it is too early to say how much money Belarus might receive as Minsk has to meet certain conditions. (Xinhuanet, China)
Southern Africa: Zimbabwe Pleads for Southern African Power Line Jul 21, 2009
David White, of the European Investment Bank, criticised delays in the completion of crucial power generation projects due to bureaucratic and political indecisiveness, saying these had hindered economic growth in most of Africa's economic communities. Be the first to. (allAfrica.com)
Nissan to create hundreds of jobs Jul 20, 2009
The 380m project will be supported by the European Investment Bank and aided in part by government grants. The plant, near Sunderland, has beaten off competition from other Nissan factories in Europe for the investment. (BBC News -- UK)
Nissan to Build Electric Cars at U.K. Factory, Secure 4,000 Jobs, BBC Says Jul 20, 2009
The project will be supported in part by funds from the European Investment Bank and government grants, the report said. Last Updated: July 19, 2009 19:19 EDT. (Bloomberg -- Japan)
Jaguar Kills the X-Type and Cuts 300 Jobs Jul 17, 2009
More recently, JLR secured a 340m (292m) loan from the European Investment Bank (EIB) under the UK government's own Automotive Assistance Programme. However, the loan needs a guarantee from Westminster and JLR says the Government's terms are untenably harsh. (BusinessWeek)
Roads: EU bank lends Sanral 120m Jul 17, 2009
The European Investment Bank (EIB) had loaned the state-owned SA National Roads Agency (Sanral) e120 million (R1. 37 billion) to help fund the upgrade of roads, the bank said yesterday. (Business Report, South Africa)
Nabucco ink starts to flow Jul 16, 2009
In particular, at the Budapest summit of the European Commission at the end of January this year, the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD) declared their readiness to back the Nabucco pipeline financially. Also at the summit, the European Commission directed that 250 million euros (US$351 million) of its anti-crisis Economic Recovery Plan should be channeled into the Nabucco pipeline through the EIB. The European Council ratified this... (Asia Times Online)
Europe Tries to Break Its Russian Gas Habit Jul 14, 2009
The European Commission has promised $350 million from the E.U.'s $7 billion economic-stimulus fund to jump-start the project, and the European Investment Bank has said it is prepared to finance up to a quarter of the pipeline's cost, about $3 billion. But with other private and public sources hesitating to commit, Nabucco's future is still in doubt. (Time.com)
Turkey, EU to build Nabucco gas pipeline Jul 14, 2009
The European Investment Bank is expected to finance one-fourth of the project, while the European Bank for Reconstruction and Development has said it's willing to provide financing once it sees gas supply contracts, completion agreements and technical parameters, according to the Daily News. Meanwhile, the Nabucco pipeline is regarded as a boost to Turkey 's long-delayed bid for the EU membership. (Xinhuanet, China)
Jaguar Land Rover plans extended shutdown & job cuts Jul 12, 2009
Jaguar Land Rover is still trying to convince the government to provide a loan guarantee that would unlock a 340 million pounds advance from the European Investment Bank. The EIB gave the green light two months ago, but cannot dispense the cash until Britain agrees to repay it if Jaguar Land Rover goes under. (India Times)
GM emerges from bankruptcy protection Jul 11, 2009
GM, which filed Chapter 11 bankruptcy on June 1, said in a memorandum of understanding that the sale would include an expected 600-million-U.S.-dollar funding commitment from the European Investment Bank, guaranteed by the Swedish government. Editor. (Xinhuanet, China)
New owners unveil new Jag Jul 10, 2009
Tata Motors has been in talks with the UK government to guarantee a 340 million pound ($US680 million) European Investment Bank loan for Jaguar and Land Rover, Vice Chairman Ravi Kant said on June 26. That day, Tata Motors posted a 25 billion rupee ($650 million) loss for the fiscal year ended March 31, mostly because of the Jaguar Land Rover unit. (Sydney Morning Herald -- Business)
GM plans to exit bankruptcy this week Jul 7, 2009
GM, which filed Chapter 11 bankruptcy on June 1, said in a memorandum of understanding that the sale would include an expected 600-million-U.S.-dollar funding commitment from the European Investment Bank, guaranteed by the Swedish government. CHICAGO, June 15 Xinhua-- U.S. Ford Motor Co. Executive Chairman Bill Ford said Monday that government intervention has taken the automobile industry into uncharted territory and called for "transparency" from the government, the Detroit News reported. (Xinhuanet, China)
Jobless Rise Dashes Europe's Upturn Hopes Jul 7, 2009
If leveraged to 500 million in co-operation with international financial institutions such as the European Investment Bank as expected by Brussels, the initiative could result in 45,000 loans over a period of up to eight years. Under the proposed scheme, loans under 25,000 would be offered to micro-enterprises, employing fewer than 10 people which is the prevailing type of business in Europe, covering over 90 percent of all firms, as well as to unemployed or inactive persons planning to go into... (BusinessWeek)
Ethiopia: AfDB Set to Start Funding Country's Gibe Dam Jul 4, 2009
Apart from AfDB, the World Bank and European Investment Bank are some of the financiers that the lobby -- Friends of Lake Turkana -- has been targeting. The same group of financiers is also expected to support the construction of power transmission lines between the two countries to facilitate electricity importation. (allAfrica.com)
Equity pain costs IDC portfolio R26bn Jul 3, 2009
If the timing is not right, we can always wait a little while," Qhena said. Gouws said that the IDC expected to increase borrowings from R5.9bn to R25.9bn to finance planned initiatives. "We are going to approach the European Investment Bank, the (Dutch development bank) FMO and the African Development Bank," he said. "We will also be returning to the bond market. "Expect the IDC to issue bonds like it did 20 years ago.". (Business Report, South Africa)
Saxo Bank Launches FX Service to Japanese Investors Following Acquisition of Astmax FX Co., Ltd. Jul 1, 2009
Saxo Bank FX's parent company, Saxo Bank A/S is a fully licensed and regulated European investment bank. It has won numerous awards such as FX Week's Best Bank for FX award and Best Retail Platform award by Profit and Loss magazine. (PR Newswire)
Tata Motors Launches Jaguar, Land Rover in India Jun 29, 2009
The company is seeking guarantees for the 340 million pounds loan sanctioned by the European Investment Bank and other loans from U.K.-based commercial banks. It is seeking these funds to develop new and more fuel efficient cars for improving its competitive position. (ABC News -- Wire)
Press Release: European Bank Coordination Meeting on Bosnia and Herzegovina Jun 24, 2009
The European Bank Coordination Meeting for Bosnia and Herzegovina was chaired by the IMF. The World Bank Group, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the European Commission, the Central Bank of Bosnia and Herzegovina, members of the Fiscal Council of Bosnia and Herzegovina, the Banking Agencies of Bosnia and Herzegovina, home country banking supervisors and/or ministries of finance (Austria, Germany, Italy, and Slovenia), and the... (IMF News)
Buffalo dealer happy with Saab-GM deal Jun 22, 2009
The deal, announced Tuesday, is expected to close by the end of the third quarter of 2009 and includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and to fund Saab s operations and product program investments, according to statements from the companies. (Buffalo Business First, NY)
GM's Saab Auto secures debt writedown Jun 18, 2009
General Motors said the deal included an expected 600 million of loans from the European Investment Bank, guaranteed by the Swedish government. Other terms were not disclosed. (Yahoo News -- Top Stories)
Swedens Koenigsegg to buy Saab from GM Jun 18, 2009
The deal, announced Tuesday, is expected to close by the end of the third quarter of 2009 and includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and Koenigsegg Group AB to fund Saab s operations and product program investments, according to statements from the companies. (Louisville Business First, KY)
EU summit to tackle unemployment Jun 18, 2009
With the European Investment Bank and other financial institutions, a new EU microfinance facility for employment will be set up providing about 500 million euros in loans to promote the creation of small businesses. The aim of the facility is to provide new opportunities for the unemployed and some of Europe's most disadvantaged groups to start their own businesses. (Xinhuanet, China)
GM sells Saab to sports-car maker Koenigsegg Jun 17, 2009
91 million) funding commitment from the European Investment Bank, guaranteed by the Swedish government. "Additional support is to be provided by GM and Koenigsegg Group to fund Saab's operations and product program investments," GM said. (Sydney Morning Herald -- Business)
A Car of Ones Own, Andrew OHagan,London Review of Books Jun 17, 2009
3 billion from the European Investment Bank. Mandelson has a good understanding of Europe, and was smart to make this move, but he caused consternation when he also said that the Bank of England was in pole position to help the car industry. (Harper's Magazine)
EBay Founder, Calvert Group Back $44 Million LeapFrog Microinsurance Fund Jun 17, 2009
The LeapFrog Financial Inclusion Fund, launching today in Luxembourg, also attracted investments from the European Investment Bank and Netherlands Development Finance Co. The fund expects to invest in, or partner with, businesses that sell policies in countries including India, Pakistan, South Africa and Uganda with the aim of helping customers protect their families and their assets from calamity. We dont believe you have to choose between profit and purpose, said LeapFrog co-founder in... (Bloomberg -- US)
LeapFrog Raises $44 Million for World's First Microinsurance Fund Jun 17, 2009
The capital was raised from a diverse set of public and private investors around the world, including the European Investment Bank (EIB), FMO, Omidyar Network, Triodos-Doen, Hivos-Triodos Fund, ACCION International, Calvert Large Cap Growth Fund, wealth manager Felipe Medina, and the LeapFrog team ... LeapFrog is holding a ceremony to mark the raising of this historic fund, on June 17, 2009, at the offices of the European Investment Bank in Luxembourg. (PR Newswire)
Led by Koenigsegg, Saab's new path is back to its roots Jun 17, 2009
GM announced Tuesday that it has struck a tentative deal that includes a $600 million funding commitment from the European Investment Bank. Additional funding would be provided by GM and the new investors. (USA Today -- Autos)
New Investors Face Tough Road Ahead to Right Saab Jun 17, 2009
The sale is to include a $600 million funding commitment from the European Investment Bank, guaranteed by the Swedish government. Additional funding would be provided by GM and the new investors. (ABC News -- Wire)
Professor, 30, student, 50. Is consensual sex OK? Jun 17, 2009
The companies said they had signed a memorandum of understanding, contingent on $600 million of financing from the European Investment Bank that is to be guaranteed by the Swedish government. They did not release further financial details, but Saab has said it would need about $1 billion to upgrade its operations. (Atlanta Journal-Constitution -- Opinion)
GM nearing deal to sell Saab unit Jun 16, 2009
Earlier Thursday, Sweden's government said it had assigned the Swedish National Debt Office to initiate talks with Saab for loan guarantees with the European Investment Bank. In a statement, Joran Hagglund, a senior official at Sweden's Ministry of Enterprise, said: "We've said all along that when there is a new owner for Saab, the debt office will be assigned to negotiate loan guarantees. Through today's decision we are well prepared for that.". (USA Today -- Autos)
EU approves loans to Volvo Jun 5, 2009
The European Commission says Volvo is planning to use 500 million euro ($A883 million) from the European Investment Bank for its 1. 9 billion euro ($A3. (Sydney Morning Herald -- Business)
EU provides 19 bln Euro to help ease unemployment Jun 5, 2009
Barroso also indicated that EU is planning to create a new loans facility, together with the European Investment Bank Group and other partners, in a bid to provide credit for those who wanted to set up a business but have difficulty in getting bank backing. The unemployment rate in the 16-nation euro-zone reached 9. (Xinhuanet, China)
EU to earmark 19 billion euros to boost employment Jun 4, 2009
With the European Investment Bank group and other financial institutions, a new EU microfinance facility for employment would be set up by spending approximately 500 million euros in loans to promote small business creation and the social economy. The aim of the faculty was to give a new chance to the unemployed and some of Europe's most disadvantaged groups to start their own business activity. (Xinhuanet, China)
Volvo in talks with Flemish premier about support May 25, 2009
Volvo chief executive Stephen Odell will meet Monday with Flemish Premier Kris Peeters in Brussels to discuss potential guarantees from the Flemish government for loans from the European Investment Bank, company spokeswoman Maria Bohlin said ... The European Investment Bank has not yet approved any loans to Volvo for the Flemish operations, but Bohlin said the talks would focus on potential loan applications for coming years ... 200 million ($266 million) loan from the European Investment Bank... (OregonLive, OR -- Business)
European Banking Group Coordination Meeting for Hungary, Concluding Statement by Participating Parent Banks May 22, 2009
The meeting was also attended by the international financial organizations, which launched on February 26, 2009, the Joint IFI Action Plan In Support of Banking Systems and Lending to the Real Economy in Central and Eastern Europe (EBRD, European Investment Bank Group, and World Bank Group), the home country banking supervisors and other relevant public institutions (from Austria, Belgium and Italy), the Hungarian Financial Supervisory Authority (HFSA), the Magyar Nemzeti Bank (MNB) and the... (IMF News)
Weekly stimulation May 21, 2009
The report calls for the consolidation and restructuring of federal, state and local government agencies responsible for transportation, housing, water and energy to coordinate a new national policy, as well as the establishment of a national infrastructure bank, similar to the European Investment Bank, which helps finance national networks by courting private capital. Infrastructure 2009 also recommends shifting the funding burden from blanket taxes to specific targets such as gasoline taxes... (Houston Business Journal, TX)
UK govt-JLR talks back on track May 18, 2009
The British government, which has appointed financial advisors to assist Tata Motors, is prepared to guarantee loans from the European Investment Bank (EIB) on the right terms, the official said. The EIB has already given its approval to a 340 million loan several weeks ago, but cannot dispense the cash until the British government agrees to repay it if JLR goes bankrupt. (India Times)
Central and Eastern Europe: No panic, just gloom May 15, 2009
A joint initiative by the EBRD, the World Bank and the European Investment Bank (which used to lend only to state-backed infrastructure projects) has raised $24. 5 billion for banks and other firms across the region. (The Economist)
Loan comes at right time for IDC May 14, 2009
A 60 million (R690m) loan received from the European Investment Bank (EIB) had come at an opportune time when the Industrial Development Corporation (IDC) was beginning to see a rise in its impairment provisions, the organisation said this week. Gert Gouws, the IDC's chief financial office, said: "The business environment is extremely challenging and many of our clients experience cash flow pressures. "Those that were exporting were at a distinct disadvantage because of weaker international... (Business Report, South Africa)
The African Finance Partnership Set to Promote Investments in Africa May 14, 2009
Other investors are the Development Bank of Southern Africa and the European Investment Bank Islamic Development Bank Group, KfW Bankengruppe and the World Bank Group ... The others are Egyptian Refinery Company project by Proparco, African Outgrower Development Funds and the Ruzizi III project by the European Investment Bank. (allAfrica.com)
IDC gets €60m loan May 13, 2009
The Industrial Development Corporation (IDC), the country's development finance institution, has received a 60 million (R685m) credit line from the European Investment Bank (EIB). In a statement yesterday, the institution said the loan would be used to finance private sector small and medium sized enterprises. (Business Report, South Africa)
MDBS Pledge U.S.$15 Billion to Promote Trade and Strengthen Financial Sector May 13, 2009
The other organizations, the Agence fran;aise de d;veloppement (AFD), the Development Bank of Southern Africa (DBSA), the European Investment Bank (EIB) the Islamic Development Bank (IDB), the KfW Bankengruppe of Germany and the World Bank ... For his part, the European Investment Bank President, Philippe Maystadt, said the joint support had become necessary in view of the magnitude of the global economic downturn which he described as "one of the deepest crisis in recent history". (allAfrica.com)
Africa: Global Lenders Pledge Billions for Continent May 13, 2009
The ADB has pooled resources together with the European Investment Bank (EIB), the Development Bank of Southern Africa (DBSA) and the French Development Agency to lend support to private sector investment projects to spur growth. Announcing the joint international finance institutions' action plan, ADB president Donald Kaberuka said the severity of the challenge facing the continent was unprecedented: "It took us decades to get where we are but six months to go from (economic growth of) 7% to... (allAfrica.com)
At Least an Additional U.S.$15 Billion to Respond to Financial Crisis in Africa May 12, 2009
The institutions participating in the initiative are the African Development Bank Group, the Agence Fran;aise de D;veloppement Group, the Development Bank of Southern Africa, the European Investment Bank, German Financial Cooperation, the International Islamic Trade Finance Corporation, and the World Bank Group ... European Investment Bank President Philippe Maystadt said: Today we join forces to help African countries respond to one of the deepest crises in recent history ... It will also... (allAfrica.com)
Cross-country run May 12, 2009
We have seen recently 15m from the European Investment Bank to support small businesses in Wales, and I see my part in playing a role in that partnership. We need more investment in the Welsh economy and yet the British Prime Minister Gordon Brown is talking about cutting millions of pounds' worth of services in Wales. (BBC News -- Europe)
Kenya-ADB - Mombasa-Nairobi Electricity Transmission - Approval of $ 75 Million ADB Loan May 8, 2009
9%), the European Investment Bank (EIB) (27. 91%) and the Kenyan government (16. (allAfrica.com)
ECB announces combined new measures to fight downturns May 8, 2009
As the last major measure, the ECB announced Thursday that the European investment Bank (EIB) will become an eligible counterpart in the Euro system's monetary policy operation since July. The EIB is mainly responsible for providing loans for small and medium-sized enterprises (SMEs), the financing of which was hit hard by the current international financial crisis. (Xinhuanet, China)
ECB cuts rate, prepares to buy bonds May 8, 2009
The Governing Council also extended the maturity of its liquidity-providing operations to 12 months and decided that the European Investment Bank can participate in the ECB's money- market auctions. That may ease financing for the small and medium-sized companies that the government-backed EIB lends to. (Sydney Morning Herald -- Business)
Eurozone interest rates cut to 1% May 8, 2009
Mr Trichet also said that the European Investment Bank, the EUs long-term lending bank, would be allowed to gain access to ECB funding by taking part in the central bank's money market operations. The ECB's decision followed the Bank of England's announcement that it would keep interest rates unchanged at 0. (BBC News -- Europe)
Swedish loan guarantee for Volvo Cars delayed May 7, 2009
The European Investment Bank in March approved loans of. 200 million for Volvo Cars, subject to availability of a state guarantee. (OregonLive, OR -- Business)
