European finance ministers today welcomed the European Investment Bank’s crucial role in providing climate finance.
At the Annual Meeting of the EIB Board of Governors in Luxembourg, ministers welcomed the EU Bank’s role delivering the Investment Plan for Europe, ambitious plans to enhance the impact of energy financing and unlocking transformational public and private investment around the world. They also welcomed the EIB’s determination to do even more to fight global warming and the impact of a changing climate.
“The EIB is Europe’s climate bank. We are leading providers of climate action finance. And we intend to do even more in the future. The clock is ticking and we must accelerate our efforts. In last month’s elections, Europeans demanded more ambitious support for energy transition and increased private investment to meet climate goals. The EU Bank said very clearly that, with our members’ support, we intend to invest more in what needs to be done, and ensure climate considerations guide everything we do” said Werner Hoyer, President of the European Investment Bank.
The Board of Governors discussed developments over the past year, including preparations for Brexit, investment priorities and cooperation with national and international partners. Ministers highlighted the success of the Investment Plan for Europe and welcomed preparations for InvestEU.
The European Investment Bank Board of Governors comprises the 28 European Union finance ministers. Today’s meeting was chaired by Romanian Finance Minister Eugen Teodorovici.
“On this occasion I wish to express my sincere gratitude to Finance Minister Eugen Teodorovici for chairing the EIB Board of Governors over the last year and my colleagues and I look forward to working with Andrej Bertoncelj over the next 12 months.” added President Hoyer.
Ahead of the meeting, ministers approved the EIB’s audited accounts that include EIB Group financing totalling EUR 64.19 billion signed in 2018.
The meeting also approved proposals for new members of the EIB’s Board of Directors, appointments to the EIB’s audit committee and agreed that for the next 12 months the EIB’s Board of Governors would be chaired by Andrej Bertoncelj, Minister of Finance of the Republic of Slovenia.
The EIB will invest €11 million to improve wastewater management and provide affordable access to water and wastewater services for more than 90 000 people in the municipality of Gjilan/Gnjilane in Kosovo. Investment from the EU bank will enable construction of a wastewater treatment plant and related sewerage network, and the revitalisation of key infrastructure in the environmental protection sector.
The EIB and the Ministry of Communities and Territories Development of Ukraine have concluded a cooperation agreement on advisory services to support the preparation of Ukraine’s Public Buildings Energy Efficiency project. The agreement was signed today ahead of the upcoming donor meeting of the Eastern Partnership Technical Assistance Trust Fund (EPTATF), which will provide €150 000 to support the implementation of this agreement.
The EIB has signed a EUR 95 million, 25-year tenor, loan agreement with the Estonian national railway company Eesti Raudtee. The Estonian Railways will use the funds to modernise tracks and the control-command and signalling systems on most of the Estonian network, as well as carry out the digitalisation of the train management systems. All interventions are located on the TEN-T, including on the North Sea – Baltic Corridor.