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RECORD EIB FINANCING FOR HIGH-SPEED RAIL LINE.

The European Investment Bank (EIB) contributed, on 16 June, record financing of 1.2 billion to the South-Atlantic Europe (LGV-SEA) high-speed rail line between Tours and Bordeaux in France. One of the largest rail projects in Europe, this line will make Bordeaux accessible from Paris in just over two hours, after six years of development and construction. The EIB financing consists of 1 billion in lending and 200 million in guarantees (LGTT - loan guarantee on TEN-T projects), an instrument put in place jointly by the bank and the European Commission and being used for the first time on a French project. The EIB notes that with this unprecedented financing, the largest ever by the EIB in France, it confirms its capacity to provide support for large-scale projects related to the modernisation and extension of the trans-European networks (TEN) through innovative and competitive financing tools.

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Publication:European Report
Geographic Code:4EUFR
Date:Jun 20, 2011
Words:144
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