EIB approves EUR 4.1 billion financing for renewable energy, clean transport, COVID recovery, social housing and education
17 June 2021
EUR 1.4 billion for renewable energy
EUR 1.2 billion to support investment by companies impacted by COVID and corporate RDI
EUR 946 million for sustainable transport
EUR 306 million for education and social housing
The European Investment Bank (EIB) today approved EUR 4.1 billion of new financing to accelerate renewable energy investment, support COVID-19 economic resilience by backing private sector investment, improve sustainable transport and upgrade schools and social housing.
“The projects approved today highlight the EIB’s engagement across Europe and around the world to unlock private and public investment that addresses local priorities and global challenges. Tomorrow I will update the EIB’s Governors, EU finance and economy ministers, on the EU Bank’s rapid response to challenges caused by the COVID-19 pandemic and our strong and growing support for green transition and climate action across the world”, said Werner Hoyer, President of the European Investment Bank.
The Board of Directors of the EIB, meeting today via video conference, approved new financing to support high-impact investment across Europe and around the world.
EUR 1.4 billion for renewable energy
The EIB approved new support for large scale solar power generation across Spain, small scale renewable energy projects in Germany, support investment in clean energy and energy efficiency by companies in Austria, and geothermal power in East Africa.
The Board also approved financing and technical support to increase sustainable and reliable energy supply and improve energy efficiency in schools, hospitals and businesses across Africa.
EUR 1.2 billion to strengthen pandemic recovery and corporate RDI
Local banking partners will provide business financing agreed by the EIB to help companies in Italy, Spain and Portugal most hit by the COVID-19 pandemic invest, expand and adapt their activities during these challenging times.
The EIB will also provide direct financing to scale up pharmaceutical research and development to improve treatment of heart and respiratory diseases and diabetes.
New EIB financing will help strengthen support for social impact and sustainable investment by companies in the Netherlands.
The EIB agreed to back new high-impact equity investment, by an experienced development finance partner, to support rural microfinance institutions working with low-income smallholder farmers across Africa that will tackle the limited access to finance in fragile regions, support rural development and reduce poverty.
EUR 946 million to transform rail transport and maritime connectivity
Logistics services that enable an efficient alternative to road transport, provided by the largest private rail freight operator in Spain and Portugal, will be transformed by acquisition of new intermodal rolling stock and locomotives approved by the EIB.
The EIB also approved support for new hydrogen and battery powered trains in Berlin and Brandenburg, and to reduce congestion at the Polish Baltic port of Szczecin.
Passenger and freight transport in Romania, connecting Hungary to Black Sea ports, will also benefit from upgrading the Arad-Sighisoara rail route to enable higher speeds and more efficient signalling, backed by the EIB, under a previously agreed infrastructure investment initiative.
EUR 306 million for education, healthcare and social housing
The EU Bank agreed financing in Alsace to support the construction of new secondary schools and upgrade and expand existing facilities, and improve acute and long-term care and assisted living services provided by a regional healthcare in the Netherlands.
The EIB will also support a new initiative to increase the supply of affordable social housing by housing cooperatives and municipal authorities in several locations in Poland.
EIB Board of Governors annual meeting
The European Investment Bank’s Governors, European Union finance and treasury ministers, representing the EIB’s shareholders will meet in Luxembourg for their annual meeting on 18 June.
The European Investment Bank (EIB) and UniCredit Bank Austria will support investments in small and medium-sized renewable energy and energy efficiency projects in Austria. The EIB will make a framework loan of up to €92 million available to the Austrian bank, which will then create a credit portfolio of up to €200 million for financing clean energy projects.
Collé Rental & Sales has signed a €50 million loan agreement with the European Investment Bank (EIB). The Sittard-based company will use the financing for the further electrification of its rental fleet of specialised machinery for the construction sector and industry. The EIB investment will be guaranteed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
The European Investment Bank (EIB) is providing €50 million in financing for the four-year investment programme of Veritas, the fully publicly owned company managing integrated water services in the Venice Lagoon Basin Council area, which covers 29 municipalities in the Venice metropolitan area and seven in the province of Treviso (Veneto, Italy).