EIB approves €12.6bn new financing, including its largest ever loan
The European Investment Bank has approved €12.6 billion of new financing for projects across Europe and the globe. The new financing includes more than €3.1 billion of COVID-19-related investment to improve public health, strengthen public services and back investment by companies in sectors hit by the pandemic.
It also includes the largest loan ever approved by the EIB - a €2 billion loan to support the construction of the new high-speed train link that will cut journey times by 1 hour and 40 minutes between Naples and Bari, Italy. The new green transport link, part of the Italian government’s “Unlock Italy” decree, will increase the competitiveness of rail transport, reduce carbon emissions, and support social and economic development in southern Italy.
A total of €1.6 billion will be used to finance small-scale local climate action projects in France, Italy and across the EU.
Financing to support construction of new windfarms off the Dutch coast and in Bosnia, improve energy efficiency in Austria and Ukraine, renovate hydropower in Georgia, roll out smart meters in Lithuania and modernise electricity networks in Madeira and Hungary was also approved.
And millions of people across Africa and Latin America will be able to access reliable clean energy for the first time following EIB support for new off-grid solar schemes and energy transition.
With regard to urban development and social housing, thousands of families will benefit from new large-scale social housing investment across France and in Germany.
The EIB Board also agreed to support the New Slussen urban development project that will transform of the heart of the Swedish capital Stockholm.
And hospital patients will benefit from EIB support for construction of a new regional hospital in Tournai and approval of a national scheme to improve mental health facilities across Belgium.
