The European Investment Bank approved € 7.5 billion of new financing for projects across Europe and around the world. This includes investment to improve public health, hospital and elderly care facilities, and dedicated new business lending programmes to support sectors most impacted by the COVID-19 pandemic.
The EIB Board also approved support for renewable energy, energy efficiency and biogas, and new clean transport investment.
“The COVID 19 pandemic makes support for the public health sector and business desperately urgent, and the EIB Group is responding without delay. At the same time we continue to support a green recovery of the European economy. Sustainability and the fight against global warming remain priorities for the EU Bank”, said Werner Hoyer, President of the European Investment Bank.
The Board approved € 3.2 billion of new financing to support private sector and public health investment.
This includes targeted credit lines in Spain, Mexico, Uzbekistan, the Maldives, and through regional initiatives with partners across Africa to help companies in sectors most impacted by the COVID-19 pandemic, a climate action business financing programme in Greece and financing for innovative companies in Italy.
The Board also approved a regional initiative to strengthen the public healthcare response to COVID-19 in Morocco, Tunisia, Egypt, and Jordan, as well as Moldova, Belarus, and Uzbekistan.
Commuters and travellers across Europe will benefit from improved air quality and more sustainable transport following EIB support for new rail, electric car, and public transport investment.
Two new projects approved will help to increase the use of renewable energy in France through support for small-scale renewable energy schemes and biogas technology.
The EIB Board also approved financing for a new cross-border gas interconnector between Serbia and Bulgaria and a gas import facility in Cyprus.
Thousands of families will benefit from EIB backing for more than 1,500 new near zero emission affordable homes in towns across France and improvements to district heating in the Lithuanian city of Kaunas.
Future generations of students and researchers will benefit from redevelopment at University College Dublin and higher education institutions across Romania, along with new EIB financing for three new specialist oceanographic climate research ships in Italy.
Original source: EIB
Published on 11 June 2020
