EIB annual results: Record year for climate action financing
The European Investment Bank Group says it exceeded its own targets in 2019, signing a record number of 1,095 operations and increasing financing volumes to €72.22 billion - despite uncertainty and delays linked to Brexit, according to its annual results.
Concerns over Brexit included the need for the remaining EU Member States to come to an agreement, last spring, over the replacement of the UK’s share of EIB capital.
The financing provided by the EIB Group in 2019 supports total investment of around €280 billion in Europe and worldwide, an increase of €50 billion compared to 2018.
The lender - which aims to dedicate 50% of its financing to climate action and environmental sustainability as of 2025 - says a record 31% share of financing went into climate action projects, transforming Europe’s energy markets, but also mitigating the effects of climate change and helping people in greatly affected areas to adapt.
