Cities are the hubs of employment, trade and innovation. They are the engines of economic growth. More than 80% of global gross domestic product is generated in cities. More than six billion people are expected to be living in cities by 2045, up from about four billion today. The future of our planet depends on how we manage urban development. In the last five years, the European Investment Bank provided over €110 billion to improve cities around the world.
As global leaders meet in New York for the UN Climate Action Summit, EIB Vice President Emma Navarro and Nanda Jichkar, Mayor of Nagpur, India and a Board Member of the Global Covenant of Mayors for Climate and Energy, explain why better city planning and development are the best ways to solve the climate crisis.
The EIB Group has stepped up its level of precaution at its headquarters in Luxembourg and in its external offices. All staff will telework as of 16 March. A small number of staff whose physical presence on EIB premises is indispensable will continue to be present on the EIB campus. The decision aims to protect the health of employees and ensure the continuity of the EIB Group’s activity.
On Wednesday the EIB identified its first case of one staff member who tested positive for corona virus.
As a precautionary measure, the EIB decided not to hold the meeting of its Board of Directors planned for Thursday 12 March in person. Decisions on the Board’s agenda will be taken by written procedure. The Bank has put in place measures to prevent disruption to its governance or operation approval schedule.
On Monday 2 March, the former President of the European Council, Donald Tusk, visited the EIB in Luxembourg on a joint invitation from the Bank, the European Stability Mechanism (ESM) and the Court of Auditors.