Latest news with #EIB
RTÉ News
6 hours ago
- Business
- RTÉ News
Taoiseach to travel to Luxembourg for two-day visit
Taoiseach Micheál Martin is due to travel to Luxembourg to meet the country's Prime Minister Luc Frieden, as part of a two-day visit to the grand duchy. Both leaders will discuss economic issues, including European competitiveness and EU-US trade negotiations. They will also discuss the current situation in both Ukraine and Gaza. Speaking ahead of the visit, the Taoiseach said Ireland and Luxembourg have "a shared interest" in the competitiveness agenda and deepening capital markets in Europe. "Bilateral relations between Ireland and Luxembourg are excellent and we are like-minded partners on many issues," he added. Mr Martin and Mr Frieden will also discuss proposals for the EU's next seven-year budget for 2028 to 2034 following last week's draft proposal by the European Commission for a €2 trillion budget. Two-way trade between Ireland and Luxembourg is worth about €3.5 billion each year, a majority of which is attributed to financial services. Like Ireland, Luxembourg's open economy and relatively low corporate tax rates have attracted international financial institutions and global investment funds to domicile in the jurisdiction for decades. Both countries' economies would be highly susceptible to a US-EU trade war in the event that it spirals to include retaliatory tariffs on digital services. US President Donald Trump has threatened 30% tariffs on imported goods from the EU, if a trade deal is not struck by 1 August. But Reuters reported yesterday that US and EU officials are discussing a broad 15% tariff on EU imports. During his visit, the Taoiseach will also meet with representatives of Irish businesses in Luxembourg and hear from Irish community representatives. More than 2,500 Irish citizens live and work in Luxembourg, a community that has doubled in size during the past 10 years, according to Ireland's embassy to Luxembourg. Tomorrow, the Taoiseach will hold a meeting with Nadia Calviño, President of the European Investment Bank (EIB). They will discuss Ireland's ongoing partnership with the bank and its role in supporting European competitiveness by investing in infrastructure projects. Mr Martin described the EIB as a "valued partner" that finances approximately €1bn for water, housing and energy projects in Ireland each year.
Maroc
5 days ago
- Business
- Maroc
Morocco Boosts Connectivity and Attractiveness Through Royal Infrastructure Push
Under the leadership of His Majesty King Mohammed VI, Morocco has undergone a major transformation of its infrastructure, establishing itself as a key regional hub for connectivity, competitiveness, and trade. Thanks to a clear and ambitious Royal Vision, large-scale development projects have multiplied across key sectors including ports, airports, roads, railways, and logistics. This momentum reflects a strategic commitment to equipping the Kingdom with modern, high-performance infrastructure that supports economic growth, territorial integration, and social inclusion, while reinforcing Morocco's role as a strategic bridge between Africa, Europe, and the rest of the world. According to European Investment Bank (EIB) President Nadia Calviño, these initiatives are part of a broader model based on strategic planning, inclusive growth, and environmental transition—values driven by the Sovereign's vision. In an interview with MAP marking the celebration of Throne Day, she reaffirmed the EIB's support for the vision of His Majesty King Mohammed VI aimed at developing greener, more resilient, and sustainable infrastructure in Morocco. Tanger-Med: A World-Class Port Hub A crown jewel of Morocco's national port strategy, the Tanger-Med complex—launched in 2007 and expanded with Tanger Med 2—has become the leading port in both Africa and the Mediterranean in terms of container handling capacity, exceeding 10 million TEUs in 2024. As a powerful magnet for international investors, the port is a key link in the national logistics chain and an integrated industrial hub, hosting over 1,100 companies across various sectors. Meanwhile, the Dakhla Atlantic Port project, currently under construction, aims to equip the southern provinces with a strategic logistics infrastructure to drive economic development. Designed as a multifunctional port with industrial, commercial, and fishing capabilities, this future facility will boost regional integration, enhance trade with West Africa, and consolidate Morocco's maritime footprint along the Atlantic. In parallel, the Nador West Med project, located on the Mediterranean coast, strengthens the resilience and capacity of Morocco's national port system. With its deep-water terminal, the project aims to relieve congestion at Tanger-Med and support industrial development in the Eastern region by creating a new logistics and energy platform—complete with a free industrial zone and oil product storage infrastructure. Motorways and Expressways for Enhanced Mobility Morocco's highway network has expanded dramatically, growing from less than 100 km in 1999 to over 1,850 km today, connecting the Kingdom's main economic and urban centers. Major projects such as the Casablanca bypass, the widening of the Rabat-Casablanca axis, and the nearly completed Guercif-Nador motorway illustrate this ongoing momentum. At the same time, the rural road program has helped lift thousands of villages out of isolation, strengthening territorial cohesion and improving access to basic services. Air Transport: Modernized and Expanded Airports Morocco has also invested heavily in airport infrastructure. Facilities such as Marrakech-Menara, Fez-Saïss, Rabat-Salé, Agadir-Al Massira, and Casablanca's Mohammed V have all undergone major expansion and modernization to meet growing passenger demand. For example, the launch of a new terminal at Mohammed V Airport is set to boost its capacity to over 20 million passengers per year. Looking ahead, the National Airports Office (ONDA) has unveiled its ambitious 'Airports 2030' strategy, which aims to triple national airport capacity from 30 to 80 million passengers annually. The goal is to support Morocco's tourism, economic, and logistics ambitions—particularly as the Kingdom prepares to co-host the 2030 FIFA World Cup with Spain and Portugal. High-Speed Rail: A First for Africa Launched by His Majesty King Mohammed VI, the Al Boraq high-speed rail line marked a historic leap forward for Morocco and the African continent. Inaugurated in November 2018, the line connects Tangier and Casablanca in just 2 hours and 10 minutes—down from nearly 5 hours previously—and has become a powerful symbol of modernity that has transformed national mobility. Building on the success of the initial phase, the Sovereign has launched a new strategic extension between Kenitra and Marrakech. By combining innovation, territorial development, and economic competitiveness, the high-speed rail program reflects an ambitious vision for a connected, inclusive, and forward-looking Morocco. An Internationally-Recognized Model Morocco's proactive Royal Vision for infrastructure has earned the Kingdom consistent recognition across Africa and beyond. International rankings regularly place Morocco among the continent's leaders in logistics connectivity, road quality, port performance, and infrastructure efficiency. Under the leadership of His Majesty King Mohammed VI, Morocco has undertaken a deep transformation of its infrastructure—laying a solid foundation for sustainable, inclusive, and competitive development. These achievements, which open up significant opportunities for present and future generations, reflect a long-term vision centered on modernity, connectivity, and the Kingdom's strong integration into the global economy. MAP: 18 July 2025
Reuters
6 days ago
- Business
- Reuters
Morningstar Sustainalytics raises EU lending arm's ESG risk score over military funding
LONDON, July 18 (Reuters) - The European Investment Bank's 'risk' score has been revised up by leading ratings provider Morningstar Sustainalytics for a second time this year due to the European Union lending arm's increasing push into military funding. Recent decisions by EU leaders mean the EIB can now directly fund military equipment makers, having only last year introduced a so-called 'dual use' financing policy for technologies such as drones or targeting systems that can also have civilian uses. Amelia Peden, Sustainalytics' lead EIB analyst said its key environmental, social and governance (ESG) 'risk' score had now moved up to 5.2 from 5, due to defence now being one of its permanent policy goals, with no ceiling on funding either. "With these additional developments, the bank further increases its exposure to human rights and geopolitical risks," Peden said, "which may lead to stakeholder scrutiny, and the potential to affect its credit risk profile in the market." Despite the increase - which followed one in January which lifted it from 4.2 - the EIB's risk remains "negligible" on Sustainalytics' scoring system and is still one of the top scorers of the near 16,000 banks, companies and other entities it rates. The EU's lending arm has a balance sheet that runs to over a half trillion euros which is bigger than the World Bank's and is aiming to lend 100 billion euros ($116 billion) this year, including 3.5 billion euros for defence. ($1 = 0.8595 euros)
Morocco World
7 days ago
- Business
- Morocco World
Safran, EIB, AfDB, and More Are Keen to Strengthen Relations, Cooperation with Morocco
Rabat – High-level international officials have commended Morocco's development momentum and progress spanning several sectors in a series of recent remarks. Vice President of the French National Assembly Naima Moutchou joined the growing list of officials who emphasized Morocco's development and reform across various sectors, including infrastructure. 'Morocco is, by unanimous opinion, seen as a pillar and a point of reference in a very troubled world,' she said, noting that it is 'quite fascinating' to see the country taking bold reforms across different sectors. Moutchou made her remarks a few weeks before Throne Day, which the North African country will celebrate on July 30. 'Throne Day is not only an institutional occasion but also a moment of pride for Moroccans to see their country advancing in stability and prosperity,' she said, noting that it is clear France and Morocco are entering an unprecedented phase in their relations. Akinwumi Adesina, President of the African Development Bank (AfDB), echoed the same sentiment, noting that King Mohamed VI's 'imprint is evident through a vision backed by action to achieve set objectives.' Adesina cited the large-scale projects and initiatives, showing Morocco not only as a modernized country but also among Africa's most stable economies. 'Morocco's transformation is built on deep structural reforms,' he said, noting that the country combined long-term public policies with large-scale investment. The European Investment Bank (EIB) President Nadia Calvino shared the same remarks, noting that the bank fully supports King Mohammed VI's vision for the development of more resilient and more sustainable infrastructure in Morocco. 'The EIB supports Morocco's ambition for greener and more resilient infrastructure, particularly through projects in renewable energy,' she said, citing an integrated wind program like the upcoming Noor Midelt solar complex. EIB has supported Morocco's development through nearly 150 operations since 1979, totalling more than € 10.6 billion, she said. Ross Mclnnes, Chairman of the Board of Safran Group, echoed similar remarks, highlighting Morocco's industrial development under King Mohammed VI's leadership. He said Morocco's development has 'real expertise' in key sectors, including aerospace, automotive, and renewable energy. The Safran executive notably commended the skill level of Morocco's workforce, emphasizing the importance of partnership between Morocco and the aerospace company. 'Today, we have more than 5,000 employees in Morocco across over eight sites and we hope to continue in this direction, as Morocco is one of our two or three most important countries outside France,' he said, recalling the country's 2030 World Cup project. 'I believe it will be a great showcase for Morocco as an African and Euro-Mediterranean hub, especially since the country's reach into Africa is one of its major attractions for investors like us- and for the country itself in its deserved international status.' Tags: aerospace in Moroccoafrica economy
Yahoo
7 days ago
- Business
- Yahoo
EIB, Rabobank and DLL collaborate to offer $1.1bn for SMEs and mid-caps
The European Investment Bank (EIB), Dutch lender Rabobank, and its asset finance subsidiary DLL have partnered to enhance access to finance for small and medium-sized enterprises (SMEs) and mid-caps across Europe. The collaboration aims to provide €1bn ($1.16bn) in funding, with a focus on projects relevant to climate and agriculture. EIB director general Jean-Christophe Laloux said: 'We have to look at the bigger picture, which is that climate change is disrupting business and economic behaviours. 'We have a long track record with Rabobank and DLL in terms of climate-relevant financing, and hope that this facility can convince other financiers to make available more support for entrepreneurs developing more sustainable projects.' Rabobank will get €250m from the EIB and match it with its own funds, resulting in €500m to support Dutch SMEs and mid-caps. The emphasis will be on sustainability and agriculture, with at least 40% of investments earmarked for climate projects and another 40% directed towards bioeconomy sectors, including agriculture. DLL has also secured €250m from the development bank, and it will match it with its own funds. Its initiative focuses on countries such as France, Germany, Italy, Spain, Belgium, Sweden, Poland, Ireland, and the Netherlands. The funding targets investments in sustainability by local companies. DLL operates as a global asset finance company for equipment and technology, managing a portfolio exceeding €47bn. Established in 1969 and based in Eindhoven, Netherlands, DLL delivers financial services across sectors such as agriculture, construction, and energy transition in more than 25 countries. Rabobank member of the managing board, and DLL CEO and chair of the executive board Lara Yocarini said: 'As a transition partner for a better world, DLL believes that sustainability is fundamental to long-term business success. 'The attractive funding from the European Investment Bank will enhance our ability to provide more accessible, affordable, and tailored leasing solutions, ultimately reducing barriers for our partners and customers to invest in more sustainable equipment and technology.' In May, DLL released its 2024 annual financial results, showcasing portfolio growth and an increase in net interest income despite facing economic difficulties in some areas. The company's portfolio grew by 7% from 2023, reaching €47bn. The growth was driven by all global business units and regions, with the exception of Latin America, which encountered substantial challenges over the year. DLL's net income increased to €1.9bn, a 7% rise from 2023. However, profitability was affected by higher impairment charges, notably in Brazil's food and agricultural sector. As a result, DLL's net profit for 2024 was €407m, a decrease from €438m in 2023. "EIB, Rabobank and DLL collaborate to offer $1.1bn for SMEs and mid-caps" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
