“Projects the EIB backed today will secure access to finance, water and clean energy for millions of people, including in communities most impacted by a changing climate. The EIB agreed to further strengthen the impact of transport investment, address the impact of the war in Ukraine on vulnerable regions outside Europe, and backed significant new innovation, water-related projects, and energy and housing investment. Scaling up climate action, innovation, business and infrastructure investment is especially important when facing inflation and price shocks, as we do today in Europe and beyond. ” said Werner Hoyer, President of the European Investment Bank.
The board agreed to repurpose EUR 59 million of grants to provide emergency support for Ukraine and discussed plans to address rising food costs, energy prices and trade disruption outside Europe.
The emergency support for Ukraine includes rail transport of passengers and humanitarian aid, acquisition of temporary bridges to replace bridges destroyed by conflict, and healthcare and housing for internally displaced people.
Strengthening EIB support for sustainable transport
The EIB board of directors today adopted a new transport lending policy to enhance the impact of greener future financing for urban, national and international land, sea and air transport, and support for transport related research and development.
The new transport lending policy replaces guidance agreed in 2011. It brings a stronger focus on climate friendly transport and will enhance the impact of EIB support for transport innovation. Over the last decade the EIB has provided more than EUR 122 billion for transport investment worldwide.
EUR 4.7 billion for corporate innovation and business investment
The EIB approved more than EUR 3.2 billion of new venture debt financing to support development of future technologies, green innovation, life science and health investment through streamlined corporate financing to be rolled out of the coming years.
New business financing totalling EUR 1.5 billion agreed today will back use of hydrogen to produce steel and new credit lines for SME investment across Italy.
The EIB backed venture capital fintech, e-commerce and education investment and inclusive microfinance across Africa, environmental and climate investment in India.
EUR 1.8 billion for water, renewable energy, transport and agriculture
The EIB approved climate adaption financing for the Aqaba-Amman Water Desalination and Conveyance Project. This will enable Jordan to adapt to the impact of a changing climate, increasingly scarce water resources, and a growing population.
The funding is the first confirmed support for the largest infrastructure project in Jordan’s history by an international financial institution, and the EIB’s largest ever support for water investment outside Europe.
The board backed support for research and development of onshore and offshore wind energy turbines that can better withstand extreme weather and typhoons. It also gave the green light to funding for the construction of three large scale solar power schemes in central Spain and to accelerate small-scale wind and solar renewable energy investment in France and Italy.
Investment approved today will also go to new trams and improving transport network safety in the city of Stuttgart.
A new EUR 200 million agriculture value chain investment programme will benefit farmers and smallholders across sub-Saharan Africa.
EUR 2 billion for education, health, housing and earthquake reconstruction
A EUR 500 million financing programme will support upgrading of research, teaching and student facilities at universities across Italy, and improve energy efficiency of university buildings.
The EIB further agreed to support hospital investment in Rotterdam and social housing construction and modernisation investment to benefit nearly 40,000 homes across Germany.
The EIB board also approved increased support for ongoing reconstruction and restoration of buildings damaged by earthquakes in central Italy in 2016.
The European Investment Bank (EIB), the EU bank, will provide a €2 million technical assistance grant for the preparation of an affordable housing project in Tirana. The grant will strengthen the municipality’s capacities and develop the necessary documentation in line with EU standards and EIB climate and environmental targets. The Bank will support the municipality in its effort to provide improved and energy efficient accommodation for the most vulnerable residents of Tirana. The project concerns the construction of new buildings and ancillary infrastructure over an area of 86 600 m2 to host nearly 6 500 people and about 1 600 low and middle-income households.
Cassa Depositi e Prestiti (CDP), Intesa Sanpaolo and the European Investment Bank (EIB) have granted a €160 million loan to La Spezia Container Terminal (LSCT, a private company and part of the Contship Italia Group), a shipping leader and manager of the Ligurian terminal, for the development of the Port of La Spezia. The goal is to improve access to the port by strengthening the rail system, delivering positive employment and environmental impact.
The European Investment Bank (EIB) and Iberdrola have agreed to increase the green loan signed in 2021 to support the development, modernisation and digitisation of the company's electricity distribution networks, a project with an impact on twelve Spanish regions. The €220 million top-up signed today brings the total EIB financing to around €820 million, allocated to strengthen smart grids in Spain and contribute to the further electrification of the economy. The project linked to the loan will improve the efficiency of the distribution network, characterised by automation and control.