Lille Secures €276 Million for Sustainable Transport Revolution: EIB and European Commission Fund Green Mobility Initiative

Lille Secures €276 Million for Sustainable Transport Revolution: EIB and European Commission Fund Green Mobility Initiative

(IN BRIEF) The Métropole Européenne de Lille has secured a €245 million green loan from the European Investment Bank (EIB) to modernize its urban transport system, alongside a €31.5 million grant from the European Commission. This joint financing will support the Mel in Green Mobility project, which aims to enhance public transport services and cycling infrastructure for 1.2 million residents. The initiative includes upgrading the public transport fleet, adding new clean vehicles, and expanding cycling routes by 220 kilometers by 2027. The project seeks to reduce reliance on private vehicles and improve network efficiency, ultimately benefiting daily commuters in Lille.

(PRESS RELEASE) LUXEMBOURG, 25-Sep-2024 — /EuropaWire/ — The Métropole Européenne de Lille has secured a substantial €245 million green loan from the European Investment Bank (EIB) to advance its urban transport and modernization initiatives. Complementing this funding is a €31.5 million grant from the European Commission, delivered through the public sector loan facility (PSLF) established under the European Green Deal’s Just Transition Mechanism (JTM).

This collaborative financial package aims to catalyze further investments in public entities within regions most impacted by the energy transition. The funding will help enhance the efficiency and environmental sustainability of transportation services for 1.2 million residents in the Lille metropolitan area.

The Mel in Green Mobility project will facilitate critical upgrades to Métropole Européenne de Lille’s public transport network. The initial phase focuses on modernizing the fleet, which includes the acquisition of 30 new trams and 42 clean buses, along with improvements to platforms, depots, and related facilities. Additionally, the project supports an extensive cycling initiative, targeting the addition of 220 kilometers of cycling infrastructure from 2023 to 2027, aimed at enhancing cyclist safety.

By fostering a shift in user behavior towards more sustainable transport options, this initiative will improve public transport accessibility and increase the range of mobility choices available to residents. Once fully implemented, the project is expected to enhance the performance of the tram and bus networks, promote intermodal transport options, and significantly reduce the reliance on private vehicles—aiming for a decrease from 56% in 2023 to 40% by 2035. This improvement in network efficiency is projected to yield considerable time savings for the 410,000 daily journeys undertaken by commuters, ultimately alleviating traffic congestion and enhancing access across the Métropole Européenne de Lille.

The initiative specifically addresses the challenges outlined in the territorial just transition plans developed by EU Member States, focusing on the needs and targets for regions like Hauts-de-France as they navigate the energy transition.

Background information

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its 27 Member States. It provides loans to the public and private sectors for sound investment contributing to EU policy goals. In 2023, France received more EIB financing for the energy and green transition than any other country, with an overall investment of €6.9 billion for renewable energy, clean mobility and energy efficiency. A partner of regional authorities, last year the EIB directed €2.3 billion in funding to rail and urban public transport and soft mobility, making it the number one sector in terms of EIB investment in France over the year.

About the European Commission’s Just Transition Mechanism

The public sector loan facility (PSLF) is the third pillar of the Just Transition Mechanism (JTM) – a key tool of the European Green Deal investment plan to make sure that no one and no region is left behind in the transition to a climate-neutral economy.

The public sector loan facility combines loans from the EIB (up to around €6 billion to €8 billion overall) and grants from the European Commission (up to €1.3 billion overall). The combined support is designed to mobilise additional investment for public sector entities in the European regions most affected by the climate and energy transition (like Hauts-de-France), as identified in the national territorial just transition plans, to meet their development needs as part of the transition to a climate-neutral economy. These plans are developed by each EU Member State and set out the challenges in each just transition region, along with the development needs and objectives to be met by 2030.

The blend of the EIB loan and the European Commission grant will facilitate the financing of projects that do not generate sufficient revenue streams to cover their investment costs. The implementation of the public sector loan facility is managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA).

About Métropole Européenne de Lille

Métropole Européenne de Lille works every day to serve its 95 member municipalities and 1.2 million residents. It covers the key areas of transport, housing, economy, public space and roadways, urban planning, urban policy, water, wastewater, household waste, disability access, nature and living environment, sport, tourism and crematoria. Chaired by Damien Castelain since 18 April 2014, the Metropolitan Council is composed of 184 members elected by direct universal suffrage for a six-year mandate.

Media Contact:

Christophe Alix
c.alix@eib.org
+352 4379 – 84303

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank