European Investment Bank

The role of the European Investment Bank (EIB) is to finance projects, which contribute to the balanced development of the EU.  The EIB essentially is a public sector organisation and can provide 'not for profit' funding for up to 50% of the capital investment required for projects which fit its policy areas.  Although it is the Council's project which must qualify for the funding,  it is the preferred bidder organisation which must decide whether this funding method provides, in general terms, the best financial solution to their proposed bid.  

EIB funding can accrue financial benefits through the application of low interest rates and it was in the Council's interests to qualify for funding as a starting point.  Following preliminary discussions with the European Investment Bank, North Lanarkshire Council have recently received confirmation that the EIB are prepared to accept Education 2010 PPP Project proposals as an investment opportunity that meets their funding criteria and as a result of a visit to North Lanarkshire Council from their specialist economists, the EIB are preparing a report that will be presented to their investment board in November 2003 supporting proposals to invest in Education 2010 PPP Project proposals.

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