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EIB estimates 2020 funding needs at €60B

The European Investment Bank estimated its 2020 funding needs at €60 billion, and said it completed 2019's €50.3 billion funding program.

The Luxembourg-based development bank's board approved a €65 billion borrowing authorization, allowing upside flexibility.

The bank estimates bond redemptions at €70 billion in 2020, whereas 2019 bond redemptions amounted to €61.6 billion.