EIB joins the Festival of Science in Genova

September 29, 2006

Luxembourg/Genova, 28 September 2006

The European Investment Bank, the European Union financing institution, will participate in the Festival of Science that will take place 26 October – 7 November 2006 in Genova (Italy).

The European Investment Bank (EIB) is at the forefront of EU policy aimed at developing a knowledge-based economy. With the establishment of the Lisbon Agenda in 2000, the EIB Group launched the Innovation 2010 Initiative (i2i).

i2i centres on three objectives paving the way for technological modernisation and the tailoring of human capital to the European economy of tomorrow. These objectives are: education and training; research and development (including downstream development); and information and communications technology networks.

The Bank's overall objective for i2i is to mobilise up to EUR 50 billion by 2010. In mid-September 2006 some 450 financing operations totalling €38.6 billion had been concluded.

In addition, the Bank's subsidiary, the European Investment Fund (EIF), has invested in €3.2 billion in 220 venture capital and private equity funds to support innovative SMEs and entrepreneurship.

The Festival of Science is a successful hub for science awareness addressing young and curious citizens eager to learn, better understand and appreciate the generation of knowledge. It contributes to establish learning as a permanent feature of life and fosters the spirit of innovation and entrepreneurship.

Around the many facets of science and technology, the Festival of Science facilitates bonds of common interest among participants, thereby helping to form and strengthen the informed social fabric needed to guide the findings towards social and economic improvements.

The Festival of Science is a significant contribution to growing European networks of events and institutions informing non-specialists about developments in research and innovation that increasingly shape our environment and our society.

Press contacts:
For further information, please contact Orlando Arango (mobile: +32 479 79 14 33;
tel.: +32-2 235 00 84; fax: +32 2 230 58; e-mail o.arango@eib.org ; website http://www.eib.org/ ).

Item source: BEI/06/96 Date: 28/09/2006

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