The Board of Directors of the European Investment Bank (EIB) has this week approved a total of €2.4 billion of new financing to improve public services, upgrade infrastructure and strengthen private sector investment.
· €905 million new financing for rail and road transport projects across Europe
· €1 billion for business investment and corporate innovation
· Support for affordable housing in Berlin and a new hospital in Belgium
“The projects the EU Bank approved today will help people in very concrete ways: getting them quicker where they want to go, giving them access to cleaner water, helping them find affordable homes and get better hospital treatment. The EIB is Europe’s climate bank, and projects like the ones we approved today help us tackle climate change and its consequences, a challenge that is becoming an ever more urgent priority for Europe and the world”, said Werner Hoyer, President of the European Investment Bank.
Transforming urban, maritime and cross-border transport
The EIB agreed to provide €905 million of new financing for five transport projects in Austria, France, Germany, Latvia and the Netherlands.
Once completed, this investment will reduce journey times for commuters in Paris, Amsterdam and northern Germany.
The EIB will also support construction to expand the 8km cross border Karawanken tunnel between Austria and Slovenia.
Upgrading water infrastructure and improving flood protection
The EIB approved €177 million of new long-term investment to improve water supply, wastewater treatment and flood protection in Kosovo, Belarus and the Netherlands.
In Kosovo, the EIB will support a project to ensure that all wastewater from the fourth largest city, Gjilan, is treated.
EIB finance will also be used to upgrade water and wastewater services in Belarus, and improve the treatment of drinking water that currently exceeds internationally accepted levels of iron content.
In the Netherlands, in cooperation with NWB Bank, the EIB will support new investment by regional water authorities to improve flood protection and water management. The initiative will help to adapt existing infrastructure to a changing climate as outlined in the national Delta Programme.