The European Investment Bank (EIB) has green-lit €4bn in financing for clean energy generation, green transport and clean water projects in 18 countries.
The funds will be channelled into green urban transport projects, which will target increasing the use of electric public transport such as buses, trams and rail-based transport in Marseille and Rotterdam, and will also extend credit to Danish projects focussing on energy efficiency.
Two new offshore wind farms off the coast of France at Saint Nazaire and Fecamp with a total capacity of 1 GW will also receive funding, as well as energy efficiency and district heating improvements in Belarus.
EIB President Werner Hoyer said: “The EIB is Europe’s climate bank, the largest public investor in climate action in the world. A changing and more uncertain climate threatens lives, livelihoods and essential services around the world.
“I am pleased that the EU bank today agreed to support new projects around the world that will better protect millions of people from future extreme weather events.”