Bloomberg News

Hoyer Says EIB Is Best Vehicle for European Growth, FAZ Reports

May 03, 2012

European Investment Bank President Werner Hoyer welcomed talks about a potential capital increase at the lender, saying that if the European Union wants to target growth, the EIB is the best vehicle, the Frankfurter Allgemeine Zeitung reported.

A capital increase of 10 billion euros ($13 billion) would mean enough private funds could be invested to finance infrastructure projects of as much as 60 billion euros, the FAZ cited Hoyer as saying. The EIB is already at a threshold and will have to scale back its activities if it doesn’t get a capital increase, Hoyer told the newspaper.

To contact the reporter on this story: Niklas Magnusson in Hamburg at

To contact the editor responsible for this story: Angela Cullen at

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