Climate action: EIB releases €9.2 billion in funding

The European Investment Bank (EIB) has announced a provision of 9.2 billion euros for urban development and housing, clean energy, sustainable transport and businesses.

The budget will finance 34 projects aimed at accelerating urban planning, implementing climate action measures, improving health and education, and mobilizing private sector investment in Europe and around the world, the EIB indicates.

“COP26 in Glasgow showed the importance of increasing investment in reducing emissions and adapting to climate change,” EIB President Werner Hoyer assured that his group will continue to play a leading role in this global effort.

The new EIB support for transformative local investments will help avoid climate chaos and improve air quality, clean water and the health of populations, he said, strengthening the EU Bank’s commitment to transparency in reporting on emissions. A new standard will be set for

To this end, the Bank’s Board of Directors has adopted a new transparency policy for the EIB Group, which includes a commitment to make all information related to emissions into the environment public.

With regard to the breakdown of these projects by sector, the EIB specifies that €3.8 billion will go to urban development, sustainable transport and social housing, €2.3 billion to Action Climate, water and renewable energy, €1.9 billion to trade financing and economic resilience. The face of COVID-19 and 1.2 billion euros for health and education.

See also  Merkel dropped additional coronovirus measures for Easter - The Strategic Mail

You May Also Like

About the Author: Hanley Mallin

Internet geek. Wannabe bacon enthusiast. Web trailblazer. Music maven. Entrepreneur. Pop culture fan.

Leave a Reply

Your email address will not be published. Required fields are marked *