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The EIB Group, consisting of the European Investment Bank (EIB) and European Investment Fund (EIF), significantly stepped up its operations in Austria in 2019. Last year the Group approved finance totalling almost €1.72 billion, €1.55 billion of which came from the EU bank. One of the Group's priorities was to support research, development and innovation, with the EIB and EIF providing €502 million in financing for this area in 2019. Other priorities included climate action finance, infrastructure projects and support for small and medium-sized enterprises. In total, EIB Group financing will unlock investment worth nearly €3.2 billion in Austria. The EIB Group is confident that its financing for the current year in Austria will be able to build on the success of 2019.