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Add to Preferred SourcesThe EIB approved new investment across Europe and around the world to improve clean energy, sustainable transport, high-speed communications and social housing, as well as health and education infrastructure.
Meeting in Luxembourg the Board of the European Investment Bank (EIB) agreed to support EUR 4.9 billion of financing. This included EUR 1.7 billion of new support for corporate innovation, industrial energy efficiency and business investment through direct financing and credit lines with local financial partners.
EIB hosted a day of discussions covering climate action, development impact, transparency and anti-corruption with representatives of 116 civil society, stakeholder and NGO groups.
The EIB agreed EUR 1.7 billion of new financing for private sector investment. This includes projects to reduce industrial energy use, develop medical devices and accelerate digitalisation of postal services.
New targeted credit lines will support climate action by companies in Bulgaria, Italy, Romania and Spain, improve access to finance by energy, tourism and education companies in Serbia, help agriculture firms in Romania to expand and encourage circular economy investment in Spain.
EUR 1 billion of financing will go to clean energy investment across Europe and Central Asia. This includes support for 18 new photovoltaic projects in central Spain, renewable energy projects in Austria and Italy, as well as new transmission infrastructure in the Netherlands to distribute electricity generated by windfarms in the North Sea.
The EIB will also support a new investment programme intended to cut energy use by district heating systems in Uzbekistan.
EUR 983 million of new investment will go to sustainable transport projects. This includes upgrading urban and regional rail links in Denmark, Germany, Italy and Poland, and expanding maritime and rail freight transport capacity on routes across Europe.
Two new projects will expand the availability of social and affordable housing in Paris and Berlin. The two projects will encourage a greater social mix and support construction of new housing for low and middle-income households.
Research and development at the Universities of Santiago de Compostela and Vigo in northern Spain, primary schools and sports training facilities in Hungary and a regional medical centre in Estonia will all benefit from new EIB financing.
Five projects approved by the EIB board, a total financing amount of EUR 445 million, will be guaranteed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Juncker plan. This will mobilise an estimated EUR 1.4 billion of new transport, energy, agriculture and small business investment.
Original source: EIB
Published on 05 February 2020