Latin America: EIB to announce €800 million in financing for climate action projects in Argentina, Brazil and Chile at EU-CELAC summit

All of the projects being financed are part of the European Union’s Global Gateway initiative.

During the European Union-Community of Latin American and Caribbean States (CELAC) Summit of Heads of State and Government, the European Investment Bank (EIB) will announce the signature of several loans to finance climate action projects in Argentina, Brazil and Chile. All of the projects are part of the European Union’s Global Gateway initiative that supports projects improving global and regional connectivity in the digital, climate, transport, health, energy and education sectors.

The projects include financing the first-ever residential mortgage-based loan for efficient housing units outside the European Union; supporting the renewable hydrogen industry; expanding, modernising and increasing the resilience of electricity transmission networks; supporting renewable energy, energy efficiency and bio economy projects; financing integrated waste management programmes; and installing solar photovoltaic plants in individual homes, small and medium-sized enterprises (SMEs) and local businesses.

Background information

About EIB Global in Latin America

EIB Global has been providing economic support for projects in Latin America since 2022, facilitating long-term investment with favourable conditions and offering the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in Latin America in 1993, it has provided total financing of around €13 billion to support more than 150 projects in 15 countries in the region.

About the Global Gateway initiative

EIB Global is a key partner in the implementation of the European Union’s Global Gateway initiative, supporting sound projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. Investing in connectivity is at the very heart of what EIB Global does, building on the Bank’s 65 years of experience in this domain. Alongside our partners, fellow EU institutions and Member States, we aim to support investment of €100 billion (around one-third of the overall envelope of the initiative) by the end of 2027, including in Brazil and Latin America.

Contact

Enrico Possenti

e.possenti@eib.org
+352 4379 - 82144

Press Office

press@eib.org
+352 43791

Reference

2023-274-EN

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