"The Symbian Foundation can't open up quite yet: the OS still has huge chunks of licensed code in it"
By this, the author presumably means "huge chunks of proprietary code in it" given that open source (or Free Software) code has a licence, too.
And given that the EIB is an arm of the EU, how about lending (or just giving) money to new initiatives which might actually benefit from an injection of cash? That instead of pouring cash into a member of a cartel whose aim is to exclude competition by waving patents at newcomers and lobbying for extended "intellectual property" regulations, all in order to shore up the market positions of its members.
I can't see how bailing Nokia out is "furthering EU policy objectives" (from the EIB's "about" page), unless those objectives were written on the back of brown envelopes. There are plenty of other ways a large corporation can raise capital even in today's financial climate.