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In addition, the European Investment Bank (EIB) is examining possible investments with local businesses--an important development, since the EIB lends about 42 billion Euros annually in such diverse areas as industry, agro-industry, mining, tourism and transport. Daniela Wortmann of EIB explains that although this policy is available for all to read, the policy actually "is created at a European Union level, by the EU governments (European Union Council, the European Parliament and the European Commission). The EIB will, with a number of conditions attached, guarantee to banks that they will be covered for any losses. |
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