March 30, 2023

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Climate Action: EIB releases € 9.2 billion in funding

The European Investment Bank (EIB) has announced 9.2 billion for urban development and housing, clean energy, sustainable transport and business.

The EIB points out that the budget will fund 34 projects aimed at accelerating urban planning, implementing climate change measures, improving health and education, and mobilizing private sector investment in Europe and around the world.

“It emphasizes the importance of increasing investment in reducing COP26 emissions in Glasgow and adapting to climate change,” said EIB Chairman Werner Hoare, who assured that his team would continue to play a key role in this global effort.

He noted that the new EIB support for transforming local investment will help avoid climate change, improve air quality, water security and public health, and strengthen the EU Bank’s commitment to transparency, setting a new standard for emissions reporting.

To this end, the Bank’s Board of Directors has adopted a new transparency policy for the EIB Group, which includes the commitment to make public all information related to emissions to the environment.

Regarding the breakdown of these projects sector-wise, the EIB indicates that 3. 3.8 billion will go to urban development, sustainable transport and community housing, 3 2.3 billion to operating climate, water and renewable energy, and 9 1.9 billion to business finance and economic recession. VI 1.2 billion for the face and health and education of COVID-19.

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