European Investment Bank Group financing if there’s no Brexit deal
Updated 19 March 2019
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What happens to EIB Group financing in the event of no deal?
When the UK leaves the EU, the UK will no longer be a member of the European Investment Bank Group (EIBG) as it will no longer be a Member State. Therefore, UK businesses will no longer be eligible to apply for loans from the Bank.
Any organisation that has received financing for a UK project from the EIBG should be aware that the Group’s operating rights for such projects are preserved through section 4 of the EU Withdrawal Act 2018. Therefore, existing UK project contracts should be protected and organisations do not need to take any action.
What is the EIB Group?
The EIBG consists of the European Investment Bank (EIB) and European Investment Fund (EIF). The EIB is the EU’s policy-driven bank, established in 1958, which provides finance for investment projects that contribute to EU policy objectives. Its subsidiary the EIF, established in 1994, is a specialist provider of risk finance for small and medium enterprises.