Plaid Cymru – The Party of Wales politicians, Jill Evans MEP, Adam Price MP and Rhodri Glyn Thomas AM are in Brussels today to discuss the possibility of European Investment Bank (EIB) funding for health purposes in Wales. The Plaid politicians will be meeting Tom Barrett, Director of Tendering Operations in the UK, Ireland and Denmark.

Jill Evans, Plaid Cymru – The Party of Wales Vice President said:

"The NHS in Wales could access up to £300m of capital investment by drawing down funds available via the European Investment Bank. There is an urgent need to increase capacity in the NHS in Wales to deal with issues such as waiting times, and EIB funding is a source of low interest capital which is available to secure the necessary investment. This source of funding is already being used by the health sector in England. The Welsh Assembly Government could access the funding without Treasury approval. Even NHS Trusts in Wales could draw down investment on an individual basis or collectively through NHS Confederation Wales."

Adam Price, Member of Parliament for Carmarthen East and Dinefwr added:

"The EIB is able to offer such competitive low cost finance as a result of its AAA credit status and non-profit objectives. The affordability of projects is also aided by the ability of the EIB to provide long term maturities for its loans. Compared to PFIs, EIB would offer exceptional value for money. The EIB since 1997 has had the role of investing in Health and Education, yet not a single penny has been drawn down for these purposes in Wales. EIB money has been allocated to Ford in Wales and Welsh Water, yet the NHS is missing out on millions that could transform public health care in Wales."

Rhodri Glyn Thomas AM, Assembly Shadow Health Minister continued:

"EIB funding offers a solution for us in Wales of ensuring sufficient public investment is available to deal with the problems faced by the NHS in Wales. This offers a real alternative to more costly private sources of funding. Whilst most of the EIB schemes in England have been PPP, the public sector can access investment through using banks as intermediaries."

"For instance EIB loans could be used to pay for the long awaited new A&E and a cardiac rehabilitation unit in West Wales General Hospital, along with a number of other exiting projects in Wales that are being held back due to a lack of funding."

"We are in Brussels today to start a dialogue which will be very positive in terms of enhancing the debate concerning the funding of the NHS in Wales." Diwedd/Ends.

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