EIB backs €6.5bn infrastructure, water & urban investment in EU, Africa, Asia & Latin America
- February 7, 2018
- Category: Investment and Finance, Global, Africa, Asia, Europe, South America
At its first meeting of 2018 the Board of the European Investment Bank yesterday approved a total of €6.5 billion of new financing for 36 projects in 17 European Union countries and schemes in Africa, Asia and Latin America.
The new financing approved by the EIB Board includes:
- Initiatives to transform the global green bond market uilding on the EIB’s role as the first and largest issuer of green bonds worldwide the board approved support for a new US$2 billion initiative to strengthen use of green bonds in emerging market in cooperation with a number of international financial institutions. This will address the limited issuance of green bonds in developing countries most vulnerable to a changing climate.
- €1.5 billion financing for the Trans-Adriatic Pipeline (TAP) that will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
- Support for renewable energy and security of energy supply including construction of a hydropower plant on the Nenskra river in Georgia and medium sized renewable energy projects across Africa.
- New investment totalling €970 million to improve services, sustainable infrastructure and reduce energy use in cities across Europe. This includes new financing for urban development investment across Greece and support for urban infrastructure in the north-western Romanian city of Oradea and towns across Poland.
- New water investment projects in Friesland and the Rwandan capital Kigali.