European Investment Bank approves €6.9 billion in new funding


The European Investment Bank has agreed to support €6.9 billion worth of new projects.

EUR1.5 billion will support renewable energy and energy efficiency projects around the world.

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Projects will include new wind energy farms in Austria and Lebanon, 15 new solar power plants across Spain and small-scale climate action and renewable energy projects in France, Kazakhstan, the South Caucasus, Latin America and Africa.

The funding will also include EV charging infrastructure projects in Estonia, smart meters in Ireland and smart streetlights in Italy.

The investment bank’s €1.3 billion will fund the rollout of ultra-high-speed mobile and broadband communications in France, Italy and Hungary. The aim is to improve access to a resilient and fast communications network to more than 5.8 million people in France and almost 99% of the Italian population.

Smart cities and the energy transition are hot topics set for discussion at this year’s European Utility Week and POWERGEN EUROPE conference. Click here to register to attend or more information about the event.

€1.6 billion will finance corporate innovation and private sector business investment.

This includes lending programmes to finance innovation investment with leading local banks in Germany and Italy, support for private equity investment in Spain and Slovakia and schemes to ease accessibility to finance by local SMEs in Austria and Georgia.