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Tuesday, January 31, 2006

EIB announces outlook for 2006 Funding Program

Expects to raise up to EUR 55bn in 2006 program
Around EUR 8bn raised so farEIB has published new projections for its funding activities, as part of the annually updated Corporate Operational Plan (COP). The COP for 2006-2008, published yesterday, sets a target for borrowing activities of up to EUR 55bn under the 2006 Funding Program.

The 2006 target of up to EUR 55bn includes pre-funding of the 2006 Program already completed in 2005, in an amount of EUR 2.9bn. The Bank has also raised around EUR 5bn in the first three weeks of 2006, leaving up to around EUR 47bn to be funded in the remainder of the year. Also, the Bank retains the flexibility to repurchase EIB debt with a nominal value of up to EUR 1bn in 2006.

The new 2006 target is closely in line with the prior forecast for the 2006 Funding Program (EUR 53.6bn) issued at the beginning of 2005.

Source  EIB

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