EIB commits $1bn to renewable projects across Europe


Theà‚ European Investment Bank (EIB) has approved new investments 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 EIB agreed to support EUR 4.9 billion ($5.4bn) of financing. This included EUR 1.7 billion ($1.9bn) of new support for corporate innovation, industrial energy efficiency and business investment through direct financing and credit lines with local financial partners.

Helping companies to cut energy use and innovate

The EIB agreed EUR 1.7 billion ($1.9bn) of new financing for private sector investment. This includes projects to reduce industrial energy use, develop medical devices and accelerate the 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.

Harnessing renewable energy and improving energy efficiency

EUR 1 billion ($1.10bn) 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 wind farms in the North Sea.

The EIB will also support a new investment programme intended to cut energy use by district heating systems in Uzbekistan.

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