Cities are the source of about 75% of the world’s CO2 emissions but they also represent a valuable ally in the fight against climate change and the drive towards Circular Economy. Mayors are often the ones who work on practical and long-term solutions, being responsible for purchasing zero-emission public transport, constructing energy efficient social housing and subsidising energy-saving and photovoltaic systems in buildings.
The EIB tackles environmental and social issues by supporting projects that make life in urban areas more sustainable. We support investments into integrated urban development, urban regeneration and renewal, as well as into water and waste management services, sustainable mobility, education and health infrastructure that benefit all citizens.
We help urban authorities access tailor-made solutions and accelerate their urban investment projects through URBIS, a dedicated advisory platform.
Between 2012 and 2018, we invested nearly EUR 150 billion in urban areas. Moreover, about 30% of our total annual lending is dedicated to the EU Urban Agenda. Part of this is deployed to higher-risk projects under the European Fund for Strategic Investments, a key component of the Investment Plan for Europe.
Through the Global Climate City Challenge, in collaboration with the Global Covenant of Mayors, as well as facilities like ELENA, URBIS and JASPERS, we share our expertise with municipalities around the world so that they can carry out their urban climate action projects. Watch our videos to learn more about how we finance cities:
The Gap Fund paves the way for cities to deliver ambitious infrastructure development for low-carbon, resilient and livable cities. It provides technical assistance for early-stage planning and project preparation. It unlocks a pipeline of financially viable urban investments that contribute to local transformation, global climate goals and green recovery. The Gap Fund was announced at the United Nations Climate Action Summit 2019 and was launched in September 2020. Since its operational launch, it has approved technical assistance for 33 cities, turning their climate ambitions into finance-ready projects. It is funded by Germany and Luxembourg and implemented by the European Investment Bank and the World Bank.
Economic development, urbanisation and changes associated with our production and consumption patterns generate an increase in solid waste. In the EU, municipal waste alone accounts for 515 kg/year per capita. To help reduce this mass, over the past decade the EIB has financed around EUR 2.8 billion worth of intelligent solid waste management schemes. France and the UK are two EU countries which have success stories to tell.