EIB Approves €2.4 Billion in Financing for Clean Energy, Infrastructure, and Global Connectivity Projects

EIB Approves €2.4 Billion in Financing for Clean Energy, Infrastructure, and Global Connectivity Projects

(IN BRIEF) The European Investment Bank (EIB) has approved €2.4 billion in new financing to support a range of projects across Europe, including clean energy, transport, telecommunications, and flood protection. This includes significant funding to enhance hydrogen production, boost energy efficiency, and repair Ukraine’s heating infrastructure. Additionally, the EIB is investing in electricity grid upgrades, both within the EU and globally, including Panama. The Bank is exceeding its investment targets under the RePowerEU programme, focusing on delivering sustainable and affordable energy solutions. The EIB is also funding major transport and telecom projects, including Metro Line 1 in Colombia and mobile phone network expansions in Italy.

(PRESS RELEASE) LUXEMBOURG, 6-Feb-2025 — /EuropaWire/ — The European Investment Bank (EIB) has approved a significant €2.4 billion in new financing to support key sectors across Europe, including clean energy, transport, telecommunications, and flood protection. This funding will bolster efforts aimed at advancing energy efficiency, promoting sustainable infrastructure, and reinforcing European competitiveness.

As part of its broader strategy, the EIB Board of Directors also discussed the evolving direction of EIB Global, which is now more closely aligned with EU external policy goals. The Bank will continue to focus on investments outside the EU that strengthen Europe’s global position, contribute to geopolitical stability, and foster prosperity and sustainability.

In response to Europe’s energy challenges, the EIB has already mobilized over €100 billion in additional investment for energy-related projects in 2024 alone. A record €8.5 billion was allocated to electricity grids, marking a substantial 40% of total EU investment in this area. Nadia Calviño, EIB Group President, highlighted that the Bank is exceeding its investment targets under the RePowerEU programme, with the goal of delivering cleaner, more affordable energy to European businesses and households. “We are ahead of our investment targets, reinforcing Europe’s energy grids and interconnectors to boost competitiveness and energy security,” Calviño said.

A key focus of this approval includes €791 million in financing aimed at expanding hydrogen production and enhancing electricity distribution in Poland. This initiative includes funds for hydrogen refueling infrastructure for vehicles and continued research and development in hydrogen energy. Furthermore, the Board has paved the way for €100 million in funding to repair municipal heating infrastructure in Ukraine, providing critical support as the country rebuilds.

Beyond the EU, the EIB is investing in Panama’s electricity network, which will improve energy distribution, increase renewable energy usage, and extend grid access to underserved communities.

The Board also approved €879 million in financing to support innovative businesses that focus on improving energy efficiency and environmental sustainability. This includes funding for automotive-component research and low-carbon glass production across several European countries, as well as a new securitisation scheme to back Dutch climate action investments.

In terms of connectivity, the EIB has allocated €768 million for transport and telecom network projects, both within the EU and internationally. In Colombia, the EIB has approved €418 million to support the construction of Metro Line 1 in Bogotá, a project expected to carry over a million passengers daily. Additionally, €350 million will be used to expand mobile phone networks across Italy, improving telecom services for millions.

Background information  

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

Media Contact:

Richard Willis
r.willis@eib.org
+352 4379 – 82155

Press Office

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SOURCE: European Investment Bank