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EIB to fund 150m pounds for British waste facility

Staff writer ▼ | November 4, 2014
The European Investment Bank (EIB) has agreed to provide 150 million pounds ($239.81 million) for a new waste facility in north Britain.
British waste facility
Waste   The European Investment Bank
"This new project represents the first joint investment between the EIB, and the UK Green Investment Bank, and we look forward to building on this in the years to come," said Jonathan Taylor, European Investment Bank vice president.

The new facility, adjacent to an existing landfill, will include a mechanical pre-treatment facility to recover metal, paper and plastics for recycling, and energy from waste to produce steam, enough to supply the equivalent of over 40,000 homes.

As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for investment projects which contribute to furthering EU policy objectives. More than 90 percent of the bank's activity is focused on Europe.