European Investment Bank Officials to visit Malta

Representatives of the European Investment Bank (EIB) will be in Malta this week in order to assess the progress of ongoing projects which have already been financed by the Bank. The mission will also explore the possibility for future EIB operations in Malta as provided for by the fourth EC-Malta Financial Protocol for which a total of ECU 30 million are available in loans.

Mr. Patrick Walsh (Head of Division, East Mediterranean) and Mr. Rainer Saerbeck (Senior loan officer) will be meeting various government officials during the course of their visit which has been jointly organised by the Ministries of Finance and Foreign Affairs. The mission will in fact hold meetings with representatives from the Ministry of Public Works and Construction, Telemalta Corporation, the Malta Maritime Authority and Enemalta.

The European Investment Bank (EIB) is the European Union's long-term financing institution. Created in 1958 under the Treaty of Rome, it provides funding for investment projects fostering attainment of the European Union's objectives. It also participates in implementing the EU's cooperation policy with non-member countries which have signed cooperation or association agreements with the Union. The Bank represents an important source of financing for economic development in the Mediterranean, where it has lent more that ECU 3 billion since 1991 in twelve countries around the region's eastern and southern rims.