EIB unveils €3.4bn financing for COVID-19, energy, transport, water, education
The European Investment Bank has approved €3.4 billion of new financing to support companies most affected by the COVID-19 pandemic and priority public health projects, alongside energy, transport, water and education projects across Europe and around the world.
Development of artificial intelligence across Europe will benefit from new EIB and EIF backing for the sector following approval of €150 million EIB support. This will build a diversified portfolio of minority stakes in companies with a core Artificial Intelligence technology focus and develop European competent in the sector by backing early stage companies.
The EIB is helping to expand the supply of clean energy in Spain with support for a new 487MW wind farm; and to facilitate the use of electric vehicles in Italy through a €200 million scheme to increase the number of charging stations. The lender also intends to provide financing to cut congestion around the Polish cities of Gdansk, Sopot and Gdynia.
The board backed €600 million of financing to help the Madrid regional government tackle the social impact of COVID-19 and back investment in hospitals, public health and care for the elderly.
The EIB also approved €100 million in new equity support for COVID-19 vaccine development and manufacturing.
And A €100 million guarantee scheme will ensure that investment by companies in Belgium most impacted by economic shocks related to COVID-19 can continue.
in education, higher education at Institutes of Technology across Ireland will be strengthened under a new Public Private Partnership investment programme; and students at schools in Serbia are set to benefit from €70 million EIB support for a new digital education programme.
