Question to the HM Treasury:

To ask the Chancellor of the Exchequer, (a) how much of the UK’s share of the European Investment Bank’s paid-in subscribed capital has been repaid under the terms of the Withdrawal Agreement, (b) what the current schedule for repayments to the UK from the EU is, and (c) what discussions he has had with the EU on any request to revise the terms of the repayment of the UK’s stake in the Bank as agreed in the Withdrawal Agreement.

The European Investment Bank (EIB) has repaid a total of EUR 300 million of the UK’s share of paid-in subscribed capital in a single payment made on 15 October 2020.

The current schedule for repayments to the UK is set out in Article 150(4) of the Withdrawal Agreement. Repayments to the UK will be made over 12 years in 11 equal instalments of EUR 300 million, with the final balance to be paid on 15 October 2031. The repayment schedule dates were amended by decision number 1/2020 of the Joint Committee, dated 10 June 2020, as a result of the entry into force of the Withdrawal Agreement on 31 January 2020 instead of March 2019.

The Government has had no other discussions with the EU on revising the terms of the repayment of the UK’s paid-in subscribed capital in the Bank as agreed in the Withdrawal Agreement.