The European Investment Bank’s loans to education, R&D and innovation projects in 2011 dipped by about 35 per cent, following record years in 2009 and 2010. Large companies that turned to the EIB when other sources dried up during the financial crisis now have healthier finances and thus need less extra financing, according to EIB officials. The biggest proportional decrease is in education and training—€1.74 billion in 2011, down from €4.36bn in 2010—while R&D loans dropped from €7.35bn to €4.3bn. Innovation loans remained stable. In 2011, the EIB lent €10.4bn to education and research projects.
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