EIB approves €12.6 billion financing for transport, clean energy, COVID-19 resilience

by MCR Correspondent

The European Investment Bank (EIB) has approved a sum of €12.6 billion of new financing for projects across Europe and around the world.

The new financing agreed on September 18, 2020, includes more than € 3.1 billion of COVID-19-related investment to improve public health, strengthen public services and back investment by companies in sectors hit by the pandemic.

Since the start of the COVID-19 crisis, the EIB has approved € 20.1 billion to enable public and private partners around the world to better tackle health, social and economic challenges.

The EIB Board, meeting by video conference, also backed investment in agriculture, water, housing, telecommunications and urban development across Europe, as well as in Africa, Asia and Latin America.

Werner Hoyer, President of the European Investment Bank said, “Fighting climate change and tackling the COVID-19 pandemic must go hand in hand to achieve a green recovery.”

He explained that the Bank is working around the world to help mitigate the impact of the pandemic on lives, jobs and businesses; and to ensure that investment focuses on sustainability, innovation, and on reducing the devastating impact of climate change.

“The 12.6 billion Euros of new EIB financing approved today show how we are working with thousands of local partners to make a long-term difference to people’s lives during these challenging times.” Hoyer adds.

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