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EIB approves €4.3 billion for innovation, business, climate action, transport and water across Europe

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on EIB or enjoy below:

🗞️ Driving the news: The European Investment Bank (EIB) has approved €4.3 billion in financing for new projects across Europe aimed at supporting innovation, sustainable transport, renewable energy, and improving water and waste management systems

🔭 The context: These funds will enhance corporate research, energy grid upgrades, and transportation, targeting midcap company growth and innovative research projects in regions like France and Italy 
• The investments are part of a broader effort to address economic uncertainties and support areas affected by environmental and economic challenge

🌍 Why it matters for the planet: The EIB's investments are aligned with climate action goals, supporting renewable energy expansion, energy-efficient engineering, and the construction and manufacturing sectors
• This aligns with the EU's aim for a swift transition to climate neutrality and adherence to the Paris Climate Accord

⏭️ What's next: The funding is expected to accelerate the integration of renewable energy into power grids, promote sustainable transportation via green bonds, and bolster the circular economy, particularly in water supply and waste recycling

💬 One quote: "Access to finance is crucial for business growth, job creation and better services," said EIB President Nadia Calviño

📈 One stat: The EIB Group's financing in 2023 aimed to mobilize around €320 billion in investments, supporting 400,000 companies and 5.4 million jobs.

Click for more news covering the latest on sustainable finance


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