BAKU, Azerbaijan, February 6. The European Investment Bank (EIB) has approved 2.4 billion euros in new financing aimed at supporting business investment, clean energy, transport, telecommunications, and flood protection across Europe, Trend reports.
The EIB mobilized over 100 billion euros for energy investments in 2024, with 8.5 billion euros allocated to electricity grids, accounting for 40% of EU investment in the sector.
Among the new funding, 791 million euros will be directed to energy projects in Poland, including hydrogen production and improved flood defenses. Additionally, the EIB plans to allocate 100 million euros to help Ukraine repair damaged heating infrastructure.
In further efforts to support green innovation, the bank has approved 879 million euros for business investments in energy efficiency and environmental sustainability, including funding for automotive research and low-carbon glass production.
On the transport front, the EIB is set to fund 768 million euros for projects both in the EU and abroad. This includes 418 million euros for the expansion of the metro system in Bogota, Colombia, and 350 million euros to improve mobile networks in Italy.