Friday 19 July 2024

European Investment Bank in €12.8bn new transport, energy funding

LONDON, 27 days ago

European Investment Bank (EIB) has announced that it has won approval from the board for €12.8 billion in new financing to upgrade sustainable transport, increase renewable energy use, build new student housing, improve earthquake and flood protection, and help business to expand.
Announcing the board decision , EIB said it won board approval for €2.6 billion in new energy investment including for wind and solar power schemes, upgradation of electricity distribution, financing small scale renewable energy use by industry and backing biofuel and biomethane production.
Amongst the new clean energy schemes agreed today are construction of a new onshore windfarm in Lithuania, district heating in the Netherlands and small-scale renewable energy projects across France and the Hellenic Republic.
"Today we approved nearly €13 billion for flagship projects around Europe and beyond. From high-speed rail in Portugal, sustainable transport in Kyiv, Lille and Helsinki, renewable energy in Lithuania and support for small businesses," remarked EIB President Nadia Calviño. 
"These investments will improve lives, and they signal the EIB Group’s commitment to continue supporting targeted investment that will boost European resilience, productivity growth and innovation," he added.-TradeArabia News Service


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