The European Investment Bank’s Board of Directors has approved €12.8 billion ($13.7 billion) in new financing aimed at bolstering sustainability across various sectors. This funding will facilitate upgrades in sustainable transport, increased utilisation of renewable energy, construction of new student housing, enhanced earthquake and flood protection, and support for business expansion.
The Board approved €5 billion ($5.3 billion) to enhance rail transport and port infrastructure in Cape Verde and across Europe. Projects include the construction of a high-speed rail line between Porto and Lisbon, train upgrades in Germany and the Czech Republic, tram and bus replacements in Lille, and the development of a light rail line in Helsinki. Furthermore, additional support for rail and urban transport investment in Ukraine was granted.
In terms of renewable energy, €2.6 billion ($2.7 billion) in new investment was approved, covering wind and solar power projects, electricity distribution upgrades, support for small-scale renewable energy use in industries, and backing for biofuel and biomethane production. Notable projects include the construction of an onshore wind farm in Lithuania, district heating in the Netherlands, and small-scale renewable energy initiatives in France and Greece.
The Board also allocated €2.1 billion ($2.2 billion) for business financing, focusing on semiconductor manufacturing expansion, digital distribution technology development, energy-efficient steel production, and the transition of industrial facilities to produce renewable packaging. Additionally, new schemes were agreed upon to improve access to finance for businesses in Ukraine and support female entrepreneurs in Africa and the Caribbean.
Other approved investments include upgrades in healthcare in Belgium and Malta, enhancements in higher education in the Netherlands, expansion of student housing in Cyprus, and initiatives to address wastewater challenges in Germany. Measures to rehabilitate buildings and infrastructure damaged by recent earthquakes, as well as efforts to mitigate landslides and floods in Italy, were also greenlit.
“Today we approved nearly €13 billion for flagship projects around Europe and beyond. From high-speed rail in Portugal, sustainable transport in Kyiv, Lille and Helsinki, renewable energy in Lithuania and support for small businesses. These investments will improve lives, and they signal the EIB Group’s commitment to continue supporting targeted investment that will boost European resilience, productivity growth and innovation.” said EIB President Nadia Calviño.