The European Investment Bank (EIB) approved EUR 4.8 billion of new financing. This includes support for projects to improve communications in rural regions, increase private sector investment to support climate action, and accelerate the transition to clean energy, including support for Europe’s largest solar power facility.
The EIB Board of Directors’ monthly meeting in Luxembourg also discussed ambitious proposals to increase EU Bank support for climate action and environmental sustainability.
“Tackling climate change is a priority for Europe and the EU Bank. Today the European Investment Bank agreed to support Europe’s largest solar power plant, alongside clean energy and flood mitigation schemes across Europe. We also discussed ambitious proposals to expand EIB support for climate and sustainable investment in the coming years”, said Werner Hoyer, President of the European Investment Bank.
“Europe must accelerate its efforts to address global warming and remain a global leader in climate action. The EIB is Europe’s climate bank, a leading financier of climate action projects. We look forward to working hand in hand with the European Commission to achieve ambitious climate goals.” added President Hoyer.
Seven projects approved by the EIB board today will be guaranteed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Juncker plan.
Original source: EIB
Published on 16 July 2019
