EIB, EC join forces on new facility to finance green investments
The European Commission has presented its proposal for a public sector loan facility under the Just Transition Mechanism.
The facility will be implemented with the involvement of the European Investment Bank and will encourage investments that support the transition towards a climate-neutral economy by public sector authorities to the benefit of coal- and carbon-intensive regions.
The facility will include €1.5 billion in grants from the EU budget and up to €10 billion in loans from the European Investment Bank’s own sources.
It will mobilise up to between €25 billion and €30 billion of investments for helping territories and regions most affected by the transition to a climate-neutral economy, prioritising those that have less capacity to deal with the costs of the transition. Investment areas will include energy and transport infrastructure, district heating networks, public transport, energy efficiency measures and social infrastructure.
