116 civil society representatives discuss climate and development priorities with EIB board
First EIB board meeting without UK
EUR 1.7 billion for private sector, industrial energy efficiency and corporate innovation
EUR 2 billion for clean energy and sustainable transport
The EIB approved new investment across Europe and around the world to improve clean energy, sustainable transport, high-speed communications and social housing, as well as health and education infrastructure.
Meeting in Luxembourg today the Board of the European Investment Bank (EIB) agreed to support EUR 4.9 billion of financing. This included EUR 1.7 billion of new support for corporate innovation, industrial energy efficiency and business investment through direct financing and credit lines with local financial partners.
Building on largest ever stakeholder engagement
Ahead of the first board meeting of the year the EIB hosted a day of discussions covering climate action, development impact, transparency and anti-corruption with representatives of 116 civil society, stakeholder and NGO groups.
This follows EIB’s largest ever stakeholder consultation last year, an eight month discussion, with 149 written contributions and petitions signed by over 30,000 people, ahead of adoption of a new lending policy in the field of energy.
Helping companies to cut energy use and innovate
The EIB agreed EUR 1.7 billion of new financing for private sector investment. This includes projects to reduce industrial energy use, develop medical devices and accelerate digitalisation of postal services.
New targeted credit lines will support climate action by companies in Bulgaria, Italy, Romania and Spain, improve access to finance by energy, tourism and education companies in Serbia, help agriculture firms in Romania to expand and encourage circular economy investment in Spain.
Harnessing renewable energy and improving energy efficiency
EUR 1 billion of financing will go to clean energy investment across Europe and Central Asia. This includes support for 18 new photovoltaic projects in central Spain, renewable energy projects in Austria and Italy, as well as new transmission infrastructure in the Netherlands to distribute electricity generated by windfarms in the North Sea.
The EIB will also support a new investment programme intended to cut energy use by district heating systems in Uzbekistan.
Expanding rail and maritime transport
EUR 983 million of new investment will go to sustainable transport projects. This includes upgrading urban and regional rail links in Denmark, Germany, Italy and Poland, and expanding maritime and rail freight transport capacity on routes across Europe.
Addressing the shortage of social housing
Two new projects will expand the availability of social and affordable housing in Paris and Berlin. The two projects will encourage a greater social mix and support construction of new housing for low and middle-income households.
Improving education and medical facilities
Research and development at the Universities of Santiago de Compostela and Vigo in northern Spain, primary schools and sports training facilities in Hungary and a regional medical centre in Estonia will all benefit from new EIB financing approved today.
EUR 1.4 billion of investment backed by the Investment Plan for Europe
Five projects approved by the EIB board, a total financing amount of EUR 445 million today, will be guaranteed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Juncker plan. This will mobilise an estimated EUR 1.4 billion of new transport, energy, agriculture and small business investment.
The EIB and the United Nations Development Programme (UNDP) have signed a new partnership agreement to scale up their support to countries facing situations of emergency caused by epidemics, natural disasters, conflict and other types of fragility. This agreement will enable both institutions to reinforce the resilience of partner countries and contribute to achieve the Sustainable Development Goals (SDGs). The immediate focus will be to address setbacks, mainly caused by the COVID-19 crisis, in Eastern and Southern neighborhood, Central Asia and Africa.
The EIB is joining forces with Santander to provide financing on favourable terms to the Spanish small and medium-sized enterprises (SMEs) and mid-caps affected by the economic impact of COVID-19. To this end, the EIB and the European Investment Fund (EIF) will subscribe several tranches of a synthetic securitisation of a SME loan portfolio originated by Banco Santander, enabling the Spanish bank to provide more than €900 million of financing to inject liquidity and support SME investments.
The EIB and Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, today announced the signing of a €24.5 million financing agreement. The venture loan is intended to support Immunic’s ongoing phase 2 CALVID-1 trial of its lead asset, IMU-838, in patients with moderate coronavirus disease 2019 (COVID-19). In addition, it is also intended to support the potential expansion of the CALVID-1 trial into a confirmatory phase 3 trial and the commercial-scale manufacturing for IMU-838. Immunic AG, the German subsidiary of Immunic, Inc., will receive the EIB loan in three tranches upon the completion of pre-defined milestones.