EIB reveals volume of investments in green transformation

Oil&Gas Materials 27 January 2022 14:44 (UTC +04:00)
EIB reveals volume of investments in green transformation

BAKU, Azerbaijan, Jan.27

By Leman Zeynalova – Trend:

In 2021, the European Investment Bank (EIB) scaled up its activities, providing a record €95 billion in financing, of which some €27.6 billion went to supporting the green transformation of EU economies, Trend reports with reference to the Bank.

Meanwhile, EIB lending to EU cohesion regions reached €19.8 billion, helping countries ensure a just transition to a green economy.

For the second year in a row, the EU bank focused on fighting the COVID-19 crisis while increasing its financing for green projects. The European Investment Bank Group (EIB Group) worked with partners in Europe and around the world to deliver a record €95 billion in financing, a 23 percent increase from 2020 (€77 billion). The European Investment Bank (EIB) provided over €65 billion in loans, while the European Investment Fund (EIF) provided just above €30 billion in guarantees and equity.

At the same time, the EIB Group has intensified investments in the twin green and digital transition, implementing the Climate Bank Roadmap 2021-2025 approved by the Board of Directors in November 2020. Financing for innovation, which will be key to the transition, reached a record €20.7 billion. The EIB has adopted new targets for lending to support EU cohesion policies, committing more funds for projects in Europe’s transition and less developed regions, where the green and digital transition could be more difficult.


Follow the author on Twitter: @Lyaman_Zeyn