During a visit to Grenoble, European Investment Bank (EIB) Vice-President Ambroise Fayolle confirmed the agreement of the Bank's Board of Directors to provide Grenoble-Alpes Métropole with a EUR 100m loan for which initial disbursements have already begun.
This demonstrates the strong commitment of these two partners to take action benefiting the climate and environment by financing climate action projects.
This loan will enable Grenoble-Alpes Métropole to dedicate itself fully to its planned energy and environmental transition, which is to be implemented with the Metropolitan Area's Air, Energy, Climate plan and guides all of its policies, particularly public water, energy, and waste collection, treatment and repurposing services. For example, it includes improving drinking water supplies, wastewater treatment and stormwater management for local people (450 000 residents and 49 municipalities). The Metropolitan Area's involvement can also be seen in the energy domain, with actions including the implementation of a new, highly efficient urban heating network and the replacement of an oil-fired boiler with an extra large wood-burning version for the main heating network, the burying of power lines and the replacement of refuse collection trucks with natural gas-powered alternatives.
All of these actions are set to improve the daily lives of local people.
The estimated total project cost is EUR 237m, to which the EIB is providing a significant contribution.
Grenoble-Alpes Métropole and the EU bank are renewing their strong commitment to combating climate change – an investment priority for the Metropolitan Area locally and for the EIB in all EU Member States – while also demonstrating a determination to offer practical, local solutions to Grenoble residents and all EU citizens.
“The EIB is the world's most important multilateral public sector institution for combating climate change, and will soon dedicate 30% of its financing to this action,” said EIB Vice-President Ambroise Fayolle. “We are proud to be able to assist the Grenoble Metropolitan Area, which is exemplary in this domain. The EU bank is helping Europeans by supporting their efforts to promote the environmental transition.”
Grenoble-Alpes Métropole Vice-President Raphaël Guerrero welcomed this partnership, indicating that “with over 70% of the 2019 budget's investment expenses dedicated to the energy and environmental transition, the Grenoble Metropolitan Area is firmly committed to improving the quality of life of local people.”