Monday, 4 July 2016

Fun with numbers - The European Investment Bank

Via MBK from The Times:

Billions of pounds of European funding for UK clean energy projects including offshore wind farms as well as universities and other big infrastructure schemes have been jeopardised by Britain’s vote to quit the EU.

Britain is a 16 per cent shareholder in the European Investment Bank (EIB), which in the past decade has lent more than £42 billion at super-cheap rates to wind farms, hospitals, railways, social housing and a string of other projects...

Ho hum.

So the UK made (however indirectly) 16% of £42 billion in loans via the EIB last year = £6.7 billion; and the EIB 'lent' the UK £5.6 billion..?

Nothing to see here, is there?