EUR 9.2 billion EIB backing for urban development and housing, clean energy, sustainable transport and business

(Source: European Investment Bank)

  • EUR 3.8 billion for urban development, sustainable transport and social housing
  • EUR 2.3 billion for climate action, water and renewable energy
  • EUR 1.9 billion for COVID economic resilience and business financing
  • EUR 1.2 billion for health and education

The Board of Directors of the European Investment Bank (EIB) today approved EUR 9.2 billion of new financing for 34 projects to accelerate urban development, deliver climate action, improve health and education and unlock business investment across Europe and around the world.

“The COP26 conference in Glasgow has demonstrated how important it is to scale up investment to reduce emissions and adapt to a changing climate. The EIB Group will continue to play a prominent part in this global effort. New EIB support for transformational local investment agreed today will help to avoid climate chaos and secure cleaner air, safer water and healthier communities. And the EU Bank’s stronger commitment to transparency will set a new benchmark for disclosing information on emissions”, said Werner Hoyer, President of the EIB.

The Board adopted a new Transparency Policy for the EIB Group including a commitment to publicly disclose all information relating to environmental emissions.

EUR 3.8 billion for urban development, transport and social housing

Millions of people living in towns and cities across Europe will benefit from EIB support for sustainable urban renewal and large scale social housing investment.

This includes backing for municipal climate action in Bologna and Pescara in Italy, regeneration of public buildings and parks in Szczecin in Poland, sustainable urban development in Oradea in Romania and a new nationwide urban investment programme in Slovenia.

The EIB approved to provide EUR 1.1 billion to support large scale investment to cut bills and emissions by improving energy efficiency in social housing across Wallonia alongside reconstruction of river banks and flood protection destroyed in the July 2021 floods.

The Board gave the green light for EUR 1 billion financing for large scale energy efficiency upgrading of social housing across France, alongside support for a new national social and affordable housing development initiative in Ireland.

Rail users in Spain, Ukraine and Egypt will benefit from EIB backing to expand two national train stations in Madrid, finance electric trams, trolleybuses and metros in Kyiv, and upgrade a key 119km rail route service in Cairo.

EUR 2.3 billion for climate action, clean transport and renewable energy

The EIB approved financing for new measures to enable more efficient water use in the Jordan valley and better protect communities from floods by constructing temporary reservoirs for peak flood-water from the Tisza River in Hungary.

It also backed new large scale wastewater investment in Brescia in Italy and Bucharest.

New EIB financing for energy and energy network investment in Hungary, Poland, France and Tunisia, and across Latin America also includes roll-out of smart grids, accelerating energy transition and scaling up renewable energy generation.

EUR 1.9 billion for COVID economic resilience and business financing

As part of the EIB’s global support to strengthen economic resilience to COVID-19 the Board approved new business financing to scale up long-term leasing for sectors most exposed to the pandemic in Italy, climate action leasing in Poland and targeted financing for small business in France and Italy.

EUR 1.2 billion for health and education

The EIB board also agreed to new financing to strengthen public health and education across Europe.

This includes backing the construction of new hospitals in Liberec in the Czech Republic and Hämeenlinna in Finland, a new financing scheme to strengthen the provision of local pharmacies and health services and upgrades of secondary schools across France.

%d bloggers like this: