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The European Investment Bank (EIB) and the Flemish Government in Belgium have signed the first tranche of a lending facility in support of the “Oosterweel” project, the missing link in the ring road around the city of Antwerp. The parties added their signatures to the document,

covering a first EUR 150 million tranche of the EIB facility, in Brussels.

One year after works started on the left bank of the river Scheldt, Flemish Ministers of Finance and Mobility Lydia Peeters and Ben Weyts have concluded a financing agreement with the financial arm of the European Union, the EIB. This major mobility project, which is expected to significantly improve accessibility and quality of life in the region around Antwerp, has a total price tag of EUR 3.5 billion. In March 2018, the EIB’s Board of Directors approved a EUR 1 billion lending facility in support of the project, of which the first tranche has now been signed. The first EUR 150 million tranche of financing has an EIB-margin on the interest rate of four basis points (0.04%) and a tenor of 40 years.