EIB approves financing for various sustainable recovery projects

On 15. July 2020 the European Investment Bank (EIB) approved EUR 16.6 billion of new financing, of which EUR 10.2 billion will be invested for COVID-19 related recovery projects. Investments are earmarked for improving public health services and adapting other public services institutions across several European countries to respond better to the pandemic. Credit lines will be provided to companies affected by the pandemic in many regions of the world, including in Europe, Europe´s Eastern Neighbourhood countries and southern Caucasus as well as in North and sub-Saharan Africa.

Further, financing for a range of green transition projects were approved, including green energy projects in South European countries, projects that allow for access to low-carbon energy sources in Mali and Madagascar, a new financing program for sustainable energy generation in Colombia, Ecuador and Mexico, energy efficient housing projects in Germany and Kenya as well as sustainable public transport projects in Poland, Egypt and India.

These approved investments demonstrate that the EIB, the long-term lending institution of the European Union owned by its Member States, is mandated as a key actor for allocating financing to sustainable recovery projects in EU countries and beyond. EU country leaders are expected to further discuss the EIB´s role for enabling a sustainable and low-carbon recovery of the EU economy later this week.