- The EIB has approved €2.2 billion for clean energy and climate action projects in several countries in the EU.
- Part of the funds will also finance projects in Latin America and Africa.
The board of directors for the European Investment Bank’s (EIB) has approved €2.2 billion ($2.6bn) of new financing for clean energy, energy-efficient housing and climate action. The funds will help to expand wind and solar energy deployments in Spain and Portugal and grid upgrades in Poland. Part of the finds will be used to improve energy efficiency in Hungary and Finland.
The Bank also a[[roved financing schemes for small-scale clean energy and climate action projects in Austria, Poland, Latin America and Africa.The bank a;so approved a proposal to establish a development branch to increase its impact outside of Europe. EIB president Werner Hoyer notes that this will enable the Bank to make a stronger contribution to boosting Europe’s strategic autonomy and make it a more effective partner for other multilateral and national development banks. “Wwe will be in a better position to pursue our global ambition in terms of the fight against climate change,” Hoyer added.