Together on infrastructure
The link between climate, development and infrastructure is indelible and engrained in the Sustainable Development Goals. The EIB’s activities foster this holistic approach to development finance.
In March 2016, the EIB signed its biggest-ever loan in India for the construction of a new Metro in Lucknow, the capital of the sub-continent’s most populous state. The Metro will increase use of public transport in Lucknow from 10 to 27%. This infrastructure project will make a vital contribution toward the city’s development and represents an important step in the battle against climate change.
Building sustainable infrastructure also touches on innovation. The EIB signed a €20 million loan to build high-speed internet access in Angola, and we are appraising a potential €40 million loan to roll out a mobile telecommunications network in Mali.
The EIB is already delivering on infrastructure, development, climate action and innovation. And with our MDB partners, we can achieve even more.
Sustainable energy for one billion people by 2030
Today 800 million people lack access to electricity, including half the population of sub-Saharan Africa. Another 2.8 billion people lack access to electricity that is reliable enough to secure their livelihoods or power modern healthcare facilities and schools. The pandemic has only exacerbated the inequality of global energy access.
- To tackle this challenge, the Rockefeller Foundation and the EIB have announced a global coalition to provide sustainable energy for one billion people within this decade. Development finance, global energy and multilateral agencies commit under this global coalition to accelerate electrification as the cornerstone of an equitable, global economic recovery.
- We have also partnered with the United Nations and other partners for a global energy roadmap outlining concrete actions to achieve clean, affordable energy for all by 2030 and net-zero emissions by 2050. We are-co-leading together with key partners the technical report on Finance and investment. Find out more about this collaboration
The City Climate Finance Gap Fund
The Gap Fund paves the way for cities to deliver ambitious infrastructure development for low-carbon, resilient and livable cities. It provides technical assistance for early-stage planning and project preparation. It unlocks a pipeline of financially viable urban investments that contribute to local transformation, global climate goals and green recovery. The Gap Fund was announced at the United Nations Climate Action Summit 2019 and was launched in September 2020. Since its operational launch, it has approved technical assistance for 33 cities, turning their climate ambitions into finance-ready projects. It is funded by Germany and Luxembourg and implemented by the European Investment Bank and the World Bank.