EIB Group Approves Major Financing Package To Drive Green Transition, Innovation

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 18. The European Investment Bank (EIB) Group has approved a total of €15.5 billion in new financing to drive business growth, corporate innovation, and investment in housing, transport, energy, and water resilience, Trend reports via the Bank.

The decisions were taken during the July board meetings of the EIB and the European Investment Fund (EIF) this week. The EIB Board endorsed €14.5 billion in fresh financing, while the EIF Board authorised €1 billion in new funding aimed at supporting the green transition, venture capital and private equity investments, and strengthening private credit and infrastructure funds.

The EIB Board welcomed plans to bolster targeted financing to address water resilience globally. The new EIB Group Water Resilience Programme, developed in coordination with the European Commission's Water Resilience Strategy, is expected to mobilise €40 billion in global water investments over the next three years. As part of this focus, new projects to modernise water and wastewater networks in Greece and the Netherlands were also approved.

Key transport investments include backing new rail projects in Estonia, Germany, and Italy, improving road connections in Poland, Romania, and Moldova, and enhancing airport energy efficiency in France, Germany, and Spain.

New energy projects will strengthen electricity grids in France, Germany, and South America, improve industrial energy efficiency in Portugal, and accelerate biofuel production in Italy.

The Board approved three housing projects, enabling financing for constructing energy-efficient homes, renovating existing buildings for energy efficiency, installing solar panels in Germany, and supporting the construction and refurbishment of affordable housing in Portugal.

Approved financing will also support companies in Croatia, Italy, Poland, and Spain, innovation in the Western Balkans, and reforestation of degraded forests and wetlands across Africa, alongside private-sector investments by North African and Middle Eastern businesses, including initiatives under the European Commission's Multiannual Comprehensive Programme for Palestine.

Further endorsed investments include projects in critical raw material recycling in Germany, low-carbon fertiliser production in South America, innovative waste-treatment plants in Spain, and pharmaceutical innovation across Europe.

The EIF transactions agreed this week comprise €278 million in new debt operations and €725 million in venture capital, private equity, and private credit transactions, supporting clean energy, decarbonisation, biodiversity preservation, and early-stage biotech and sustainable business investments across Europe.

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