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€2.4bn for business investment
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€1.7bn for sustainable transport
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€1bn for climate action and clean energy
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€670 million for regional development
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€410m for education and health
The Board of Directors of the European Investment Bank (EIB) on 21 September approved €6.3bn of new financing to support new business investment, transport, climate action, education and health, and regional development Europe and around the world.
“World leaders gathering in New York this week are calling for increased engagement to tackle the climate crisis and deliver the 17 Sustainable Development Goals. Together with European and global partners the EIB continues to deliver on this aim and is unlocking crucial investment to enhance economic opportunities, improve lives and mobilise financing.” said Werner Hoyer, President of the European Investment Bank.
€ 2.4bn for corporate innovation and business investment
New financing for targeted business investment includes improving access to finance by innovative cleantech companies across Europe, dedicated financing for data centre investment in France and climate investment by Italian business.
The EIB will back large-scale investment to accelerate research, development and commercialisation of agricultural seeds in Germany, France, Italy and the Netherlands and finance measures to improve energy efficiency and reduce emissions by an industrial paper producer in Sweden.
The EIB agreed new dedicated support to strengthen access to microfinance by people across Africa displaced by conflict, climate or economic challenges.
New equity investment to support export focused businesses in Ukraine and Moldova, digitisation of companies in India and across Africa and renewable energy companies in Latin America and the Caribbean was also approved.
€ 1.7bn for better urban and regional transport
New transport investment backed by the EIB will improve urban transport, upgrade rail connections and reduce road congestion.
This includes renovation of the tram network, provision of new trams and construction of new maintenance facilities in the French cities of Nantes and Nice, upgrading a 30km rail link on the TEN-T corridor in Hungary and construction of a new section of the A2 motorway section between Minsk Mazowiecki and Biala Podlaska in Poland.
The EIB also approved financing for a new 22km elevated metro line in Egypt’s second city, Alexandria with 20 new stations and enabling commuters to benefit from higher transport capacity, faster speeds and improved comfort.
€1bn for climate action and clean energy
New financing for climate action, environmental protection and clean energy approved will support renewable energy expansion, improved energy efficiency and help to adapt agricultural practices to a changing climate.
New backing for renewable energy includes financing mid-sized solar and onshore wind energy projects across Germany, financing small and medium-sized onshore wind projects across Austria and streamlined financing to accelerate development of renewable energy generation in Chile.
The EIB agreed to back comprehensive energy efficiency improvements public buildings across the Armenian capital, Yerevan, including efforts to reduce energy use in kindergartens and health centres.
In Cyprus the EIB agreed to finance construction of new and improved sewer networks and waste water treatment, to enable compliance with the EU Urban Wastewater Treatment Directive.
€670m for regional and urban development
New regional and urban investment approved today will transform public services, enhance economic activity and increase local sustainable energy use and environmental protection.
New backing for investment in the Polish city of Kraków will improve education, health, public transport, sporting and cultural facilities used by city residents, including the estimated 2.5 million Ukrainian refugees hosted in the city since Russia’s invasion of Ukraine, as well as upgrade flood protection, renewable energy and energy efficiency measures.
In the Spanish region of Extremadura the EIB will support local education, digital, health, water and transport investment as part of broader initiatives to tackle economic, social and environmental challenges related to rural depopulation, opportunities for young people, communications and transport challenges, energy costs and climate change.
€410m for education and health
The EIB approved new financing to support construction of new academic, research and associated buildings for Milan’s Statale University at a new modern campus at the Milan Innovation District (MIND), to redevelop the former 2015 Milan EXPO site.
In Morocco the EIB will finance of expansion and development of ten technopole science parks to support economic growth and competitiveness.
Elderly care in the Netherlands will also benefit from EIB backing approved today for a new dedicated care facility and upgrading facilities at 13 care homes.
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.