EIB to support sustainable urban investments with 381 million euros

The European Investment Bank will allocate 381 million euros for transport, hospitals and schools

Yesterday, 11 March 2021, the European Investment Bank (EIB) approved a new 3.7 billion euros investment to support businesses, renewable energy, internet, health, education and sustainable urban development.

The financial assistance aims to improve different regions in Europe hit the Covid-19 pandemic, and it will be distributed as follows:

• 2.4 billion euros to strengthen access to financial and economic resilience in response to Covid-19
• 1.5 billion euros to fund private sector COVID crisis response under the Pan-European Guarantee Fund
• 688 million euros to support solar and wind energy
• 381 million euros for transport, upgrading hospitals and schools, and sustainable urban investment

“A year after COVID-19 led to unprecedented lockdowns, public health emergencies, business challenges, and loss of life, Europe continues to support its citizens and its companies while promoting global solidarity. The EIB Group has enabled a rapid, targeted and effective response across Europe and around the world as the EU Bank and as part of Team Europe. Today’s approval of EUR 3.7 billion of new EIB financing will help private and public partners to achieve a green and sustainable recovery,” said Werner Hoyer, President of the European Investment Bank.

381 million euros for transport, upgrading hospitals and schools, and sustainable urban investment

European cities and communities will benefit from the new EIB investment in various projects - some of which had already been started and others are just being approved.

For example, in Jyvaskyla (Finland), the EIB has approved an investment to build 7 schools and day care centres whereas in Stockholm (Sweden) a commuter train modernisation project is underway.  

Wroclaw (Poland) has plans to improve energy efficiency, urban transport, education, sports and cultural facilities. Banja Luka, the second largest city in Bosnia and Herzegovina, will receive a new medical complex, including a training centre and a university clinic.