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New EIB financing includes sustainable transport projects

By Tom Nokes / Updated: 01 Aug 2018

The European Investment Bank approved a total of EUR 12.6 billion of new financing for 83 projects located across Europe, Asia, Latin America and Africa. This represents a record level of new support ever agreed at a monthly meeting of the EIB Board of Directors.

By endorsing 48 projects for EUR 6.1 billion investment guaranteed by the Investment Plan for Europe, the EIB Board will enable the Juncker Plan's European Fund for Strategic Investments (EFSI) to exceed its original EUR 315 billion investment target.

Following Board approval the EIB will finalise new programmes to enhance access to finance by small business in partnership with local banks, and support new investment in energy, transport, communications and urban development.

“The Juncker Plan is a success. The EIB Group has exceeded its commitments with financing worth considerably more than the EUR 315 billion targeted for the three years ending this month. We have shown that Europe can respond to economic challenges with energy and creativity. But there is no cause for complacency. Europe still lags behind global competitors and its own goals in terms of investment in innovation, education and other strategic sectors. The EIB continues to focus on increasing Europe’s competitiveness. The EU Bank has proven a key asset for investment and economic policy in Europe. Together with other EU institutions we must build on this success and on this model to double our efforts and make Europe economically stronger and more inclusive”, said Werner Hoyer, President of the European Investment Bank.

Improving sustainable transport

New EIB financing totalling EUR 1.8 billion was agreed to support sustainable transport projects. This includes new commuter rail rolling stock in Berlin, accommodating future growth at Guadaloupe and Venice airports, construction of the first metro line in Bogota, low-emission buses in Warsaw, expansion of electric vehicle charging stations in Italy, a new water transport hub in China and upgrading public transport fleets across Spain.

 

Source: story first published by EIB on 18/07/18

Link to full story: EIB

Image source: ©  Number1411/ Shutterstock.com

Country: 
Europe-wide
Topic: 
Policy and research
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