As the financing arm of the European Union (EU), the European Investment Bank (EIB) supports long-term investment projects both inside and outside Europe, including airport development projects, air traffic management programmes, aviation research and development, and in special circumstances, the acquisition of aircraft. The objectives of these projects are to increase service levels, improve compliance with aviation safety standards, enhance environmental performance and promote economic growth and development. As of 2012, the EIB is acting as the lead financier for the extension of the European Geostationary Overlay Service (EGNOS) coverage to the ASECNA area in Central and West Africa. The EIB is also assessing the possibility of financing an airfield upgrade project in Mozambique and development projects in Lesotho and Malawi.