The board of the European Investment Bank has approved new financing totaling EUR 11.5 billion to include support for investment to improve transport, education, urban development, water, energy and communications, alongside backing business investment across Europe and around the world.
“Economies across Europe and around the world enjoy solid growth rates at the moment, but there is still a large investment gap that needs to be tackled. Investment is needed in many areas, from fighting climate change to supporting the digital transformation. As the Bank of the European Union, the EIB helps companies of all sizes to flourish and develop new products and services”, said Werner Hoyer, President of the European Investment Bank.
Backing for more than EUR 1.3 billion of new financing for water and energy projects includes wind farms in Austria, smart meters in France, upgrading energy and water networks in Italy, expanding hydropower in Madagascar and renewable energy projects in Peru. New support for water and wastewater in the UK and investment in small scale biomass and district heating schemes across Europe was also agreed to.