EIB drops in to scout Scottish investment options

The EIB said it had supported investments in Scotland ever since it agreed a loan for Peterhead power station in 1974 and in the last decade alone, it has provided more than £3 billion for long-term investment in projects in Scotland.

The delegation will brief more than 100 Scottish business leaders today in Glasgow on new financing opportunities to support innovative companies.

Tomorrow the group will be in Scotland’s capital to reveal the details of a loan for Edinburgh University and will meet First Minister Nicola Sturgeon.

The EIB said the loan would be the biggest it has handed to a European university.

It comes at a time when universities in the north and north-east of Scotland are reeling from the news that they will suffer grant reductions from the Scottish Government totalling almost £6million next year.

Ms Sturgeon said: “I am pleased that Scotland has consistently established itself as a great place for the EIB to invest. We will continue to work closely with EIB to build on our existing relationship in order to increase investment in innovation enterprises and inf rastructure t hat will benefit all.”

Jonathan Taylor, EIB vice-president, said: “The European Investment Bank recognises new opportunities to increase support for infrastructure and innovation investment across Scotland, and improve access to finance for Scottish small businesses.

“Having examined Scotland’s latest budget and the National Planning Framework, the EIB sees new opportunities to work with the Scottish Government to help deliver investment that improves lives, unlocks economic opportunities and strengthens services that benefits people across Scotland.”