The European Investment Bank (EIB) has invested approximately EUR 2 billion in urban development projects in the south Mediterranean region since 2011, focusing on key urban infrastructure and mobility projects. The Bank’s strong commitment to support this important sector was reaffirmed during the second Union for the Mediterranean (UfM) ministerial conference held on 21st and 22nd of May 2017 in Cairo on “Sustainable urban development in the south Mediterranean countries”.

Recent examples of the Bank’s operations include the financing of micro and SME investments in conjunction with community development in Egypt, the upgrading of informal settlements and construction of urban railway lines in Tunisia, and construction of the Rabat Tram and the development of Zenata urban development which is part of a regional development strategy in Morocco.

The EIB-financed projects contribute to energy efficiency improvements in urban districts, housing and public buildings, and decarbonisation of the urban economy. The sustainable urban mobility projects contribute to reducing congestion, improving air quality and achieving CO2 reductions. Urban regeneration and social-affordable housing contribute to local economic development and social inclusion.  Water and waste investments provide significant environmental, health and climate action benefits as well as contributing to the circular economy and improving resource efficiency.

In addition the EIB has been providing, together with the EC, the Union for the Mediterranean and the Agence Française de Développement, advisory services for preparing projects targeting integrated urban development in the Mediterranean region through the multilateral Urban Project Finance Initiative. The Bank also has played a key role in Medinas 2030 initiative which supports the renewal of historic city centers in the region. 

Khaled Elnimr, +352 4379 70482, k.elnimr@eib.org