EIB approves €5.3b for climate, business in Europe

The European Investment Bank (EIB) approved €5.3 billion in new financing to enhance climate resilience, support urban development, and promote business investment across Europe. The funds will help cities, businesses, and communities become more competitive, climate-neutral, and resilient.

The Board approved €3.5 billion for smart city projects and energy-efficient urban development, including investments in Bulgaria and southern Germany.

Support for Ukraine Solidarity Package in Poland, aimed at aiding 1.4 million Ukrainian refugees, was also expanded.

Additionally, €1.4 billion was allocated to business innovation in the automotive, aviation, and clean transport sectors, with further support for sustainable investments in Europe, Guinea, and Côte d’Ivoire.

Water infrastructure in Bratislava and the Nagpur metro expansion in India also secured €350 million in financing.