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£1bn loan for Crossrail from European Investment Bank – London First response

Business group London First welcomed Transport for London’s confirmation of a £1bn loan from European Investment Bank to support the financing of Crossrail.

London First Chief Executive, Baroness Jo Valentine, said:

“The European Investment Bank has seen the value of the Crossrail project to the long term wellbeing of London, Europe’s leading world city. The economic potential unleashed by Crossrail will support regeneration of the Thames Gateway and a wider sharing of the benefits of London’s success.”

Notes to editors

London First is a business membership organisation with a mission to make London the best city in the world in which to do business. London First undertakes this by mobilising the experience, expertise and enthusiasm of the private sector to develop practical solutions to the challenges facing London. London First also seeks to persuade central and London government to make the investments that London needs in its infrastructure

London First delivers its activities with the support of the capital’s major businesses in key sectors such as finance, professional services, property, ICT, creative industries, hospitality and retail. Membership also includes further education colleges and all of London’s universities. London First members represent over a quarter of London’s GDP.

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