>@ Daniel Baumbach / EyeEm/Getty Images
© Daniel Baumbach / EyeEm/Getty Images

The heaviest rainfall in a hundred years has caused devastating floods in Luxembourg, our host country, Germany, Belgium and the Netherlands. The number of casualties is still uncertain but it is clear that many dozens of people have died, many more are missing, and that tens of thousands of people have had their homes and businesses destroyed. At the EIB, our thoughts go to the victims of this catastrophe. 

We must now swiftly rebuild basic infrastructure. Some losses can never be replaced but the European Investment Bank stands ready with its funding and expertise to help the affected communities rebuild what they can in the coming months and years.

Sadly, this devastation right in the heart of Europe is just one example of extreme weather phenomena which multiply around the world year on year. As such events become more frequent as a result of climate change, it is vital that we act now with measures to mitigate their impact and prepare our communities. As Europe’s Climate Bank, the EIB is committed to this mission.