Helena Lyng Blak
8 weeks ago

€5.5 billion in climate-focused investments approved for European innovation, energy, and education

The European Investment Bank supports new projects across multiple European countries.
hydrogen gas pipeline for clean electricity solar and windturbine facility
r.classen / Shutterstock.com

On Thursday, the Board of Directors of the European Investment Bank (EIB) approved €5.5 billion in financing to spur business investment, harness clean energy, upgrade schools, expand sustainable transport, and fight forest fires.

The €5.5 billion will back new projects in Czechia, Finland, France, Germany, Greece, Italy, the Netherlands, Poland, Spain, Portugal, Romania, Sweden, and Ukraine.

The initiatives include efforts to rebuild war-damaged infrastructure in Ukraine, assist companies in reducing energy costs, enhance environmental sustainability, develop renewable hydrogen production plants, establish two renewable-energy heat districts in Finland, construct solar power plants in Italy, Portugal, and Spain, upgrade city buses in France to use renewable energy sources, combat forest fires in Greece, and upgrade schools in France.

The European Investment Bank, owned by its 27 member states, is the European Union's investment bank. It stands as a leading global financier for climate action and environmental sustainability initiatives.

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