The EIB is the European Union's long-term financing institution whose primary purpose is to provide support for capital investment projects which advance European integration. The EIB was granted permission to commence operations in Central and Eastern European countries from 1990, and has since provided resources, know-how and expertise to support these countries in their transition towards market economies. By-mid 1995, it had committed ECU 2.7 billion to projects in the transport, telecommunications, energy, industry and environmental sectors. For the period 1994-1996, ECU 3 billion has been earmarked for projects in Albania, Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Romania and Slovakia. In 1993, the EIB was also permitted to commence lending operations in Slovenia of up to ECU 150 million. The EIB's most frequent financial partners in Central and Eastern Europe are the EBRD, the World Bank and funding bodies of the European Union Member States. The EIB's operations in these countries include: - Upgrading air traffic control systems in Bulgaria, Hungary, Estonia, Romania and Slovakia with financing of ECU 155 million, and ECU 60 million for airport modernization in Lithuania and Poland; - Modernization of road networks and railways, including a grant ECU 125 million recently awarded to the Czech state railway company to modernize its section of the Berlin-Prague-Vienna line; - Modernization of telecommunications networks in Bulgaria, the Czech Republic, Hungary, Poland and Slovakia, including a loan to Romania of ECU 80 million for 700 new telephone lines; - Rationalization and rehabilitation of existing supply and the development of the region's own resources, together with power station modernization and gas storage and transport facilities in several countries, including Poland, Romania, Slovakia and the Czech Republic; - Development of industry with priority for joint ventures with European Union partners (JOPP) and direct investment by European Union firms, as well as global loans or temporary credit lines to the region's banks to fund small- and medium-sized projects. The EIB has lent the following overall amounts, by country, over the 1990-1995 period: - ECU 886 million for Poland; - ECU 537 million for Hungary; - ECU 477 million for the Czech Republic; - ECU 290 million for Romania; - ECU 226 million for Bulgaria; - ECU 203 million for Slovakia; - ECU 88 million for Slovenia; - ECU 47 million for Estonia; - ECU 15 million for Lithuania; - ECU 10 million for Albania; - ECU 5 million for Latvia.
Albania, Bulgaria, Czechia, Estonia, Hungary, Lithuania, Latvia, Poland, Romania, Slovenia, Slovakia