The 28 year European Investment Bank loan will finance purchase of new rolling stock by Rock Rail East Anglia PLC for use by Abellio East Anglia Limited.
'The Investment Plan for Europe continues to make a real difference to our daily lives. Thanks to this fresh financing from the EIB, rail passenger services in East Anglia improve, making the commuter's experience more comfortable. I am proud that we can support the upgrading of transport infrastructure in this way.' said European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness.
Over the last decade the European Investment Bank has provided more than £8.4 billion for transport investment across the UK and nearly €160 billion worldwide. Past European Investment Bank lending has included support for investment in new Eurostar, Intercity and London Underground trains, backing for Crossrail and the Northern Line extension, and new tram networks in Manchester and Nottingham.
Lending by the EIB in the UK last year totalled £5.6 billion and represented the largest annual engagement since the start of EIB lending in the UK in 1973. This supported nearly £16 billion of overall investment in 40 projects across the UK, which included schools, university campuses, hospitals, upgraded energy links, renewable energy projects and water infrastructure.
The European Investment Bank is the long-term lending institution of the European Union owned by its Member States.
The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and by providing visibility and technical assistance to investment projects.
EIB estimates projects and agreements approved for financing under the EFSI (up to 26 September 2016) are expected to mobilise €127.2 billion in total investments across 27 member states and support around 290,000 SMEs.
Building on this success, the European Commission proposed in Septemberto extend EFSI by increasing its firepower and duration and reinforcing its strengths.
The latest EFSI figures including a break-down by sector and by country here. More information see FAQs.
Notes to editors
1September 2015 recorded 2,096,886 units registered, the first time the 2 million mark was passed in September since 2004.
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