FORMER UKIP leader Diane James has called on the Government to claw back money it is owed through loans paid out by the European Union’s bank.

The European Investment Bank (EIB), a lender owned by EU member states, dishes out billions of pounds each year in loans across the 28-country bloc and the rest of the world.

Along with Germany, France and Italy, the UK is one of the biggest shareholders of the EIB with a holding worth £34billion.

In 2015, the EIB lent £67billion, bringing its total of outstanding loans to around £430billion.

Ms James, now an independent Member of the European Parliament (MEP) following her resignation from Ukip last year, has urged the Government to demand the cash it is due from interest payments on EIB loans is paid directly to Britain.

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