Sweden to borrow money from EIB to cover the cost of immigration

Sweden to borrow money from EIB to cover the cost of immigration
The Swedish Minister for Finance, Magdalena Andersson, now considers borrowing large amounts of money from EIB to increase immigration to Sweden.

Although the government over the summer has raised a wide range of taxes, there apparently is still not enough money to support all the migrants from the Third World who right now flows into Sweden.

Therefore, Andersson is considering to borrow money from the European Investment Bank (EIB).

Plans to borrow money to finance immigration was raised in connection with an informal ECOFIN meeting in Luxembourg yesterday.

According to the news agency Direkt, the plan is that the money that the state borrows from the EIB, in turn will be lent to the Swedish municipalities and county councils to cover up the losses they suffer when the costs of grants is soaring as the migrants are pouring in.

Currently at least 3,000 arrive to Sweden every week.

- We should look at whether it may be appropriate for Sweden. The Swedish state borrows cheaply. But it is not always the case that regions and municipalities can borrow cheaper than from the EIB, said the Minister for Finance.

The day before yesterday, the government announced that it would invest an additional SEK 1,8 billion to support immigration to Sweden. If the money that will now be borrowed is in addition to the extra billion already decided upon was not clear yesterday.

Although the government is considering borrowing money to finance the immigration, the Minister for Finance says that she is convinced that the costs are manageable in the short term. She also says that she still believes that immigration at some point in the future possibly could contribute to economic growth in Sweden.

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