ANNOUNCEMENT 30 Nov 2017

In November 2017, the European Investment Bank (EIB) signed a loan agreement with Irish Continental Group to support is passenger and freight transport business.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, IRISH CONTINENTAL GROUP FERRY PROJECT: http://www.eib.org/en/projects/loan/loan/20170239
The European Investment Bank, Project summary, IRISH CONTINENTAL GROUP FERRY PROJECT: http://www.eib.org/en/projects/pipelines/pipeline/20170239
The European Investment Bank, press release of 22 January 2019, EUR 155 million EIB support for investment in two new cruise ferries by Irish Continental Group: http://www.eib.org/en/infocentre/press/releases/all/2019/2019-017-eur-155-million-eib-support-for-investment-in-two-new-cruise-ferries-by-irish-continental-group
Irish Continental Group: https://www.icg.ie/about/icg-at-a-glance/

Inception date: 30 Nov 2017 | Removal date: open ended
Still in force

State loan

The loan agreement between the European Investment Bank (EIB) and Irish Continental Group was signed on 30 November 2017 and has a total value of EUR 75 million (approx. USD 89.3 million).

The loan will support the company's investments in a cruise ferry with a capacity to transport "1,800 passengers, 300 cars and 165 trucks". The Irish Continental Group (ICG) is a leisure, shipping and transport company with headquarters in Ireland. The company transports "passengers and cars, Roll-on/roll-off freight and container & Lift-on/lift-off freight on routes between Ireland, the United Kingdom and Continental Europe". 

The loan is the first transaction financed under the Green Shipping Loan Programme, see related state act. In June 2018, the EIB approved a second loan to the company, see related state act. 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
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