EIB agrees €8.1bn in new global climate action financing

The European Investment Bank has approved €8.1 billion of new financing for climate action, sustainable development, health, and education investment across Europe and around the world.

This includes support for large and small-scale renewable energy projects, for the development of electric vehicles, and for improving the energy efficiency of homes. The financing will also help to build water infrastructure and rural roads in developing countries impacted by a changing climate. 

Among the projects is the construction of new drinking water treatment facilities and expansion of clean water distribution to benefit more than 2 million people in Niamey, the capital of Niger; a new large-scale wind farm in the North Sea, small scale renewable and energy efficiency projects in Italy, and the expansion of electricity distribution in western Nepal to enable remote communities to benefit from hydropower.