Urban Environment
The EIB supports and fosters an integrated approach to achieve sustainable urban development in order to make European cities better places to live and work in.
For many years the EIB has been a major player in the urban field, supporting social housing and multi-sector urban renewal projects as well as mobility projects contributing to a reduction of CO2 emissions, thus combating climate change.
EIB financing for sustainable urban renewal projects covers social housing, development, renovation, modernisation and improvement schemes involving districts, buildings and infrastructure as well as the preservation of the social, architectural and historical heritage of cities.
EIB lending for sustainable urban transport promotes a shift from private to public transport. Urban transport projects not only aim to improve air quality and decrease noise nuisance, but also help to tackle climate change by enhancing energy efficiency and limiting CO2 emissions.
Cooperation with the European Commission and financial institutions
JESSICA (Joint European Support for Sustainable Investment in City Areas), a joint Commisssion/EIB initiative, helps the authorities in all EU Member States to exploit financial engineering mechanisms to support sustainable urban projects eligible for EU Structural Funds resources in the context of cohesion policy. Other international financial institutions, as well as the European banking and private sector, can contribute to this initiative.
The EIB has also strengthened its relationship with the Council of Europe Development Bank (CEB) through the signature of a tripartite Memorandum of Understanding which includes the Commission, aimed at coordinating the approach of both institutions for the financing of urban renewal and development projects.
JASPERS (Joint Assistance to Support Projects in European Regions) assists the 12 Central and Eastern European EU Member States in the preparation of major projects to be submitted for grant financing under the Structural and Cohesion Funds. The aim is to increase the quantity and quality of projects to be submitted to the Commission for approval. JASPERS assistance, which is provided free of charge, is geared towards accelerating the absorption of the available funds.
