Thursday, December 23, 2004

More on those BBC loans

DavidH tells me that the BBC has now drawn down the loans I posted about here.

A bit of digging on the EIB site unearthed this page which shows that one of the loans was made to BBC Worldwide, the commercial arm of the BBC group. Its purpose was to support their investment programme. I guess (but I'm not sure) that this means buying up of intellectual property ie programme rights.

The EIB site FAQ section says that:
The Bank’s policy is to ensure that its funds are used rationally, in the interests of the project it finances and in the interests of the EU.

(my emphasis)

So that much appears clear. The EIB believes that the BBC is working in the interests of the EU.