EIB finances Sustainable Recovery Projects in Barcelona

On August 3, 2020, the European Investment Bank (EIB) announced the financing of nearly 40 projects in Barcelona that serve multiple objectives for the city. On the one hand, the projects contribute to the climate change mitigation and adaptation efforts of the city; on the other hand, they create jobs and enhance social inclusion. Therefore, the EUR 95 million financing package supports Barcelona’s sustainable recovery in the wake of the COVID-19 pandemic.

Projects being financed include people-centric urban redesign that decreases the commuting needs of inhabitants, reduces motorized traffic, and expands recreational green spaces. Improvements to urban bus lines and cycle lanes will also be financed along with construction and renovation of low-carbon public buildings—including schools, sports facilities, libraries, nurseries, and senior care homes. It is envisioned that approximately 1,500 people will be employed during the construction phases of these projects.