To fast track the implementation of rail investments, the new platform offers the lending, blending and advisory services of the EIB and the EU financial instruments available under InvestEU. It is available to all rail operators, infrastructure managers, transport authorities and other stakeholders. The Green Rail Investment Platform aims to address specific market needs, explore new business models and boost opportunities to finance innovation and climate action in rail transport.
“Rail transport will be the backbone of Europe’s future climate-neutral transport system. It is the only mode of transport that has reduced its emissions and energy consumption since 1990,” said EIB Vice-President Kris Peeters. “That is why investing in rail is a top priority for the EIB. The new Green Rail Investment Platform will help the rail sector to access EU investment financing and advisory support more easily.”
Find out more about eligibility criteria, financial products and advisory services under the Green Rail Investment Platform here.
The EIB and rail
Transport is key to growth and inclusion. It connects people and enables companies to trade. Since its foundation in 1958, the EIB has supported many of the transport networks that have helped Europe to thrive and grow closer together.
The EIB Group is playing a significant role in the transformation of mobility for a low-carbon future. This year we launched a new public consultation on our support for the sector. The aim is to redefine the priorities of our support within the framework of the pioneering Climate Bank Roadmap and to strengthen the impact of our future transport investment.
Our investments in lower-carbon transport (rail, metros, tramways and alternative fuels) have already increased from €6.7 billion in 2019 to €7.2 billion in 2020, an increase of almost 10%.
In the last ten years, the EIB has provided more than €40 billion to support the rail sector. Lending for rail rolling stock has become more important in the EIB rail portfolio, increasing from 33% of loan amounts signed in 2017 to 60% in 2020. The EIB is now focusing on financing projects that are in line with climate action targets, such as electric rail rolling stock and other zero-tail pipe emission trains such as those powered by hydrogen and batteries, as well as rail infrastructure and intermodal terminals.
Building a modern, digitalised rail network with direct express train connections between major cities in the region will help establish better connectivity and provide a safer and more environmentally sustainable mode of transport for people and businesses in the Western Balkans. This was recognised as a key priority of the Dedication to Rail, signed today by ministers in charge of transport in the region at the First Western Balkans Rail Summit, held in Belgrade. The event was organised by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), and was under the auspices the Ministry of Construction, Transport and Infrastructure of Serbia.
The EIB has agreed to provide GBP 60 million for the purchase of new trains that will improve passenger services in East Anglia on key London, intercity, airport and local services. The 378 new train carriages will be used by franchise operator Abellio and replace outdated existing electric and diesel trains currently used on the routes. The EIB loan is guaranteed by the European Fund for Strategic Investments (EFSI) under the Investment Plan for Europe, and this is the first EFSI transport loan in the United Kingdom.