The investment included first time lending to housing associations in southern England and Northern Ireland, as well as through the Housing Finance Corporation.

Coupled with backing for major education, transport, water and energy projects, the money amounted to a record number of projects being supported.

The EIB is currently finalising new support for social housing in Scotland and London.

Jonathan Taylor, European Investment Bank Vice President, said: “Last year the European Investment Bank’s support for crucial investment across the UK helped to improve essential services, enhance key infrastructure and unlock economic opportunities across the country. This included record financing for social housing investment in any European country, and the largest ever loans to universities.

“These will strengthen world class research and innovation at universities in Oxford, Edinburgh, Swansea, Bangor, Newcastle and UCL. More UK households will get green energy following the single largest ever EIB support for investment in offshore wind, and London commuters will benefit from new trains.”

Since 1973 the EIB has provided more than £100bn for investment to improve public services, key infrastructure and unlock new opportunities for companies across the country.