The Ministry of Transport of the Canton of Sarajevo and Stadler Rail AG today signed a contract for the procurement of 15 trams to replace an existing obsolete tram fleet. The signature ceremony was attended by representatives of the local government, the Swiss embassy and the contractor Stadler, as well as the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD). These two banks are financing this project to improve the urban transport network in the Canton of Sarajevo through modernisation of the tram and trolley bus networks, replacement of existing vehicles and construction of new roads.
The EIB has already allocated €40 million under favourable terms in 2021 for this important operation that will help tackle some of the issues that the people of Sarajevo face on a daily basis — air pollution, traffic congestion and safety. More efficient and reliable public transportation will enable a shift from private to public transport modes among passengers, delivering multiple benefits for the quality of city life and the environment alike.
The EIB representative for Bosnia and Herzegovina and Montenegro Sandrine Friscia made the following comment at the event:“We are glad to see EIB investments are directly changing people’s lives for better. New trams will help reduce commuting times and the number of traffic accidents, thus improving living conditions for everyone. At the same time, they will lower the level of noise and pollution in the city, which will bring us closer to fulfilment of the EU Strategy for the Western Balkans and the EIB climate goals. As the EU climate bank, we want to help the region shift to more sustainable transport options, resulting in a cleaner environment and the capability to mitigate climate changes more efficiently.”
To date, the EIB has invested €1.6 billion in the modernisation of transport infrastructure in Bosnia and Herzegovina, contributing to the construction of modern and safer roads, primarily along the Corridor Vc.
The European Investment Bank is active in around 160 countries and is the world’s largest multilateral lender for climate action projects. The EIB Group has recently adopted its Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to provide more than 50% of EIB finance for climate action and environmental sustainability by 2025. Also under the Roadmap, from the start of 2021, all new EIB Group operations will be aligned with the goals and principles of the Paris Agreement.
At COP, the EIB confirmed its intention to support Egypt’s green and sustainable transition, while also contributing to the country’s resilience to climate change over the period 2022-2030, including renewable energy projects, transport projects, water and food security projects.
83 innovative solutions have been selected to receive technical and financial implementation support under the EU for the Green Agenda in Serbia initiative. In response to four public calls, local governments, companies, scientific research institutions and civil society organisations throughout Serbia submitted their environmentally friendly plans aiming to accelerate the green transformation, climate action and job creation. The United Nations Development Programme (UNDP) is implementing the initiative with the financial support of the European Union and in partnership with Serbia’s Ministry of Environmental Protection, EIB Global, the Swedish embassy and the government of Switzerland.
EIB President Hoyer and Vice-President Fayolle join Egypt’s Minister for International Cooperation Rania Al-Mashat for a discussion that broached both what is needed to mobilise climate finance at the scale that will be required and the hopes and expectations of the panellists for the upcoming COP27 in Sharm El-Sheikh.