EU investment chief: we want to do business in Scotland – Herald

Magnus Gardham, Political Editor

THE vice president of European Investment Bank has said he hopes the
institution will continue to support major projects in Scotland after the
EU referendum.

Jonathan Taylor said the EIB did not have a view on the UK’s membership of
the EU, which was “ultimately a matter for the British people”.

But, speaking ahead of a meeting with Nicola Sturgeon, the former senior
Treasury official said he hoped the EIB would continue to do business “at
the same high level”.

The EIB – which is owned by EU member states – has provided £3 billion of
finance for infrastructure projects in Scotland over the past decade.

Supported schemes include the £745 million Aberdeen bypass, Dumfries’s new
£200m hospital and the £150m replacement for the Edinburgh Sick Kids
hospital, all of which are currently under construction.

Asked about the prospect of Britain leaving the EU, Mr Taylor said: “We
have done a lot of business here, so naturally I would hope we would
continue to be able at the same high levels in the future.”

He is due to meet the First Minister in Edinburgh today to discuss new
opportunities as Holyrood takes on greater borrowing powers from the start
of the new financial year.

Possible schemes under discussion will include the expansion of Aberdeen
harbour and a wind farm off the Fife coast.

He stressed existing lending would not be affected if Britain voted to
leave the EU.

Also today, Mr Taylor will announce a £200m, 30 year loan to Edinburgh
University, equalling the EIB’s record loan to Oxford University last year.

Yesterday he visited the EIB-financed Technology and Innovation Centre at
the University of Strathclyde, where he briefed business leaders on support
for new companies.

The EIB is owned by the EU member states including a 16 per cent share by
the UK government.