Crossrail gets approval of £1bn loan from European Investment Bank

London's multi-billion rail project secures a loan from European Investment Bank (EIB). It is considered to be a major boost to complete the £16bn scheme due to be completed in 2017. The rail project will definitely take time and will run from Maidenhead, Berkshire, Shenfield, Essex in the east. The rail project will play a significant role in developing London to a sustainable world city by reducing pollution and congestion as said by Simon Brooks, the vice-president of the EIB.