First EIB loan agreement Oosterweel signed

  • April 12, 2019

On 12 April, the European Investment Bank and the Government of Flanders have signed the first tranche of a lending facility in support of the Oosterweel project. Minister Weyts (Mobility), Minister Peeters (Finance) and Director-General of EIB, Luca Lazzaroli, signed the contract for the first 150 million euros at the Errera house in Brussels.

Oosterweel is the large-scale mobility project that aims to improve the accessibility and quality of life in the wide Antwerp region (port, city and surroundings). The cost of this project is estimated at 3.5 billion euros. The EIB is prepared to release up to EUR 1 billion for its implementation. The EIB's participation in the Oosterweel project makes it cheaper for Flanders (lower interest rates and longer durations) to finance this project.

Minister Weyts : “The European Investment Bank puts faith in the Oosterweel project: one of the biggest mobility and quality-of-life-projects to be carried out in Europe in this century. Only a few years ago, hardly anyone still believed in this project, but step by step we removed all the barriers for the project, which now enjoys great support on both river banks.”

Minister Lydia Peeters: “The advantageous conditions offered by the EIB will convince other investors to put their weight behind the project. In the end, this means that we will spend less on interest payments, which benefits the Flemish budget as well as the citizens, and in particular the future users of the Oosterweel-connnection.”

EIB Director-General Luca Lazzaroli: “The EIB is not just a bank, but also a European institution with a very clear mission: to improve people’s lives through our investments. The EIB has reiterated its support for this project from the start, and we are happy to see it take off. We expect that this project will significantly improve the lives of people living in and around Antwerp, as well as conditions for those transiting through the area, and are very glad to support this.”

European Investment Bank