§ Lord Lea of Crondallasked Her Majesty's Government:
What steps they are taking to improve the United Kingdom's disproportionately low share of the European Investment Bank's overall funding of transport infrastructure. [HL5134]
§ The Minister for the Cabinet Office and Chancellor of the Duchy of Lancaster (Lord Macdonald of Tradeston)Public and private sector organisations in the United Kingdom benefited from European Investment Bank loans totalling €15,626 million during the period 1997–2001. Many important transport infrastructure projects were among the initiatives supported. Government, other public sector bodies and private undertakings have and will continue to seek to make use of the bank's facilities when it makes economic and financial sense to do so. In recent months, the bank has approved substantial loan facilities in relation to the development of Terminal 5 at Heathrow and the improvement of the Al between Darrington and Dishforth in Yorkshire. The bank is also considering an application for support for phase 3 of the Manchester Metrolink.