European Investment Bank allocates €7 billion for communications, renewable energy and innovation
European Investment Bank allocates €7 billion for communications, renewable energy and innovation
Monday, 18 November 2019 13:18

European Investment Bank allocates €7 billion for communications, renewable energy and innovation o.polyuga Mon, 11/18/2019 - 14:18

Photo: Unsplash.com

The European Investment Bank (EIB) will support new investments across Europe and around the world with €6.9 billion to improve communications, renewable energy, sustainable transport, social housing and education infrastructure.

The EIB Board of Directors also approved a new energy lending policy to further strengthen the impact of EIB support for energy transition and a new strategy to deliver the EIB’s ambition to increase climate action and environmental sustainability over the next decade. According to the new energy lending policy, the EIB will end financing for fossil fuel energy projects from the end of 2021.

The EIB agreed to allocate €1.5 billion to support renewable energy and energy efficiency projects around the world. This includes supporting new wind farms, solar power plants, as well as small-scale climate action and renewable energy projects. The EIB Group will align all financing activities with the goals of the Paris Agreement from the end of 2020.

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Press release

Press release

EU4Energy Programme

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