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ARTICLE · 05 OCTOBER 2020

Global Vantage: Engineering Without The EIB: Infrastructure Funding Post-Brexit

Beale & Co
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Whilst the Government has indicated an intent to maintain a relationship with the European Investment Bank (‘EIB') post-Brexit, concrete plans for how it intends to do so have yet to be announced.

European UnionGovernment, Public Sector
Antony Smith
Antony Smith

Whilst the Government has indicated an intent to maintain a relationship with the European Investment Bank (‘EIB') post-Brexit, concrete plans for how it intends to do so have yet to be announced. Antony Smith considers the impact that loss of EIB membership could have on the UK construction industry in our latest Global Vantage article.

The European Investment Bank (‘EIB') is the European Union's bank, owned and controlled by the EU's member states. Since 1973, the EIB has financed over 1,000 projects in the UK, with a lifetime investment of more than €118bn. Whilst the Government has indicated that it will look to maintain a relationship with the EIB post-Brexit, it has yet to outline concrete plans for how it intends to do so. With Brexit now only a few months away, it seems increasingly likely that, at least in the short-term, EIB investment will not be guaranteed post-Brexit. This raises the prospect of a significant funding gap in the construction industry.

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