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

The European Investment Bank (EIB) has approved 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.

 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.

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.

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

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Martin Banks

Martin Banks

Martin Banks is a highly qualified journalist with many years experience of working within the EU institutions. He is an occasional, and highly valued, contributor to EU today, writing on a wide variety of issues.

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