EIB in support of ARTE
by Cineuropa
The European Investment Bank (BEI) announces a Euros5.5million loan to the ARTE television channel for expanding the technical and production facilities at its new headquarters in Strasbourg.
The Bank is advancing this loan to ARTE under its Innovation 2000 Initiative (i2i), set up by the EIB Group to bolster the development of a knowledge-based, innovation-led European economy. The finance contracts were signed today in Strasbourg by Mr Francis Mayer, EIB Vice-President, and Mr Jobst Plog and Mr Jérôme Clément, respectively Chairman and Vice-Chairman of ARTE. This EIB loan will underpin ARTE's investment aimed at keeping pace with technological developments in traditional and digital broadcasting of television programmes. It will also serve to finance the installation of two production studios. To be implemented by end-2003, this investment will boost ARTE's position in a highly competitive audiovisual sector, enabling it to perform in full its remit of supporting European production and broadcasting high quality cultural or educational programmes designed to promote European integration.
(Translated from Italian)
Did you enjoy reading this article? Please subscribe to our newsletter to receive more stories like this directly in your inbox.
