EIB backs EUR 4 billion transport, business, clean energy and climate resilience investment

The European Investment Bank (EIB) approved today a total of EUR 4 billion of new financing to facilitate private sector investment and improve transport, clean energy generation and access to clean water in 18 countries.

“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.”, said Werner Hoyer, President of the European Investment Bank.

The EIB Board of Directors held its monthly meeting today in Luxembourg.

Improving cross-border and local transport

It agreed financing to support expansion of the Port of Piraeus in Greece, to upgrade roads across Lebanon and to increase efficiency of the Spanish air traffic control network.

The EIB also backed new sustainable urban transport projects to increase the use of electric buses, trams and metro services in Rotterdam and Marseille. It also agreed financing to improve the national road network in Lebanon.

The Board approved funding for the reconstruction of the airport on the Caribbean island of Sint Maarten, destroyed by hurricane Irma in 2017, with a new terminal that is better equipped to withstand future hurricanes.

Record new support for agricultural investment

Agriculture and bioeconomy companies across Europe will benefit from new investment supported by one of the largest ever agriculture financing initiatives backed by the EIB. The EUR 700 million scheme approved by the EIB board will be managed by local banks and leasing companies active across the EU.

Protecting communities and infrastructure from flooding

In Haiti the EIB will back construction of new bridges that can better withstand extreme weather and earthquakes.

Unlocking private sector investment and innovation

The EIB board approved EUR 1.3 billion of financing for private sector investment.

This includes dedicated credit lines to support female entrepreneurs and youth employment in Greece, targeted financing for agriculture and tourism in Italy, bioeconomy companies in the Czech Republic, and lending to enable energy efficiency investment by firms in Denmark.

The EIB also agreed to support new equity growth investment to support financial services companies across Africa.

The EIB will back new research investment to develop pharmaceutical products in Italy and construction of a new dialysis research and development centre and dialysis logistics centre in Romania.

Strengthened support for clean energy

Financing for the construction and operation of two new windfarms off the French coast at Saint Nazaire and Fecamp was approved by the EIB board. The two projects are expected to generate nearly 1 GW of clean energy and are part of the first round of offshore wind projects to be developed in France.

The EIB board also agreed to support the modernisation of district heating the increased use of biomass power generation and improved energy efficiency in residential buildings in Belarus.

EUR 1 billion of investment backed by the Investment Plan for Europe

Financing for four projects approved by the EIB board today will be guaranteed by the European Fund for Strategic Investments (EFSI).

Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Overview of projects approved by the EIB Board:

http://www.eib.org/projects/pipeline/recently-approved/index.htm

Overview of projects approved by the EIB Board of Directors following positive assessment by the EFSI Investment Committee:

http://www.eib.org/efsi/index.htm