NEW DELHI: The European Investment Bank or EIB that supports long term investments for development projects in India will open a regional office for South Asia here by the end of the year to augment its operations in the sub-continent.
Last week Werner Hoyer, the president of the European Investment Bank, announced that the world’s largest multilateral public bank would strengthen engagement to support long-term investment in India.
Speaking alongside Prime Minister Narendra Modi at Brussels last week, the bank’s president confirmed EIB’s commitment to supporting long-term investment crucial for environmentally sustainable social and economic development in India and announced the opening of a Regional Representation for South Asia in New Delhi by the end of the year.
“The European Investment Bank has supported long-term investment across India for more than 20 years that has helped to harness renewable energy, strengthened industry and reduced carbon emissions. The opening of a regional office of the EU Bank in the subcontinent will ensure closer ties with public and private partners across the country, where our financial strength and technical expertise can benefit crucial long-term investment in India” pointed out Hoyer outlining European Investment Bank plans.