EIB funds Bord Gais and AIB as it determines key projects

EIB funds Bord Gais and AIB as it determines key projects The EIB has concluded a new 155m loan for Bord Gais and is backing a progressive 80m "Risk telling" Loan deal with AIB targeted at boosting lending to Irish high tech companies, Normally seen as too risky for bank loans,/p> A high level working group of officials from the costa rica government and the bank has since been established and is being tipped as a model for other bailed out countries badly hit by a lack of credit,/p> It has identified funding for system, Highpotential startups, SMEs and agrifoods as concern areas,/p> the government wants the EIB to double to 1bn its lending to Irish borrowers next year, so as to replace absent new era by you bank lending and stimulate the economy,/p> The new Bord Gais loan is to finance developing on six "Onshore" Windfarms in areas Clare, Kilkenny and Tipperary with a total total capacity of 141 megawatts,/p> Matching funding from the semistate means the total New Era kepsar investing will be 311m, The EIB said yesterday in an argument,/p> The Bord Gais loan will be taken either as a nineyear facility repaid in one payment or as a 15year amortising loan,/p>
It's the latest successful debt financing by Bord New Era caps Gais following last week's 500m bond deal,/p> brand name windfarms, many of which are already close to completion, Will come under the hammer next year when Bord Gais is due to sell power group assets to meet the new era privatisation targets,/p> The 80m of funding for AIB will allow the bank to help increase lending to "Innovate" Companies under a structure known as a "Risksharing device, It means the EIB will guarantee 50pc of loans of up to 7.5m that AIB makes to eligible online companies and SMEs,/p> It will be targeted at export and innovationoriented companies seen by government entities as engines of growth, But often viewed by banks as dangerous,/p> EIB vp Mihai Tanasescu said his bank is pushing to reopen Public Private Partnership (PPP) Funding of infrastructure projects, and this includes examining a deal to fund new work on the M11 motorway,/p>