(Finance) – The Board of Directors of European Investment Bank (EIB) yesterday approved new investments equal to 791 million euros in the sectors of energies renewable, health care And waternext to the support granted to the rural and urban development. The President of the EIB Werner Hoyer further confirmed that the Bank had fully disbursed the amount of € 668 million under the EIB’s Emergency Solidarity Response to Ukraine, and welcomed the European Union’s approval of the InvestEU guarantee aimed at enhancing the EIB funding for clean energy, education, improved internet connectivity, water and wastewater infrastructure.
“There Russia is waging a ruthless and illegal war in Ukraine, perpetrating atrocities against innocent civilians. We cannot allow the feeling of horror this arouses to paralyze us. Instead, we must continue to work tirelessly to support Ukraine and its neighboring countries which welcome millions of refugees even more. We have already disbursed € 668 million to Ukraine, and more will follow, ”said Werner Hoyer, President of the European Investment Bank. “Today the EIB Board of Directors also approved new financing worth € 791 million to accelerate investments in the renewable energy, health and water sectors and improve services and opportunities in cities and rural regions across Europe. These investments will help Europe meet the social, economic and security challenges arising from the war in Ukraine. ” added President Hoyer.
The EIB’s Board of Directors today approved new loans worth 310 million euros aimed at expanding the production of renewable energy in the villages Baltics and to improve water distribution and security for the 2.5 million people living in Belgium. Support for large-scale investments in the water sector in Wallonia is aimed at modernizing the drinking water supply system, strengthening resilience to the changing climate, reducing energy consumption and increasing the use of renewable energy in the field. water supply and treatment.
The EIB also agreed to finance investments for 316 million euros intended to improve municipal services and facilities in Poland and to support agricultural investments in Spain. The EIB’s support for new investments in Zielona Góra in western Poland will boost urban transport, school and sports facilities and reduce energy consumption. In Andalusia, southern Spain, EIB investments will help modernize agriculture, improve biodiversity and adopt better water management in 12,000 farms, connect rural regions to high-speed broadband speed and better access to finance by local businesses.
Public health care of the Galicia, in northern Spain, will undergo a transformation thanks to the resources of the EIB that will go to the modernization of two university hospitals in Pontevedra and Ferrol. The funds – equal to 150 million euros – will improve hospital care, increase facility capacity and reduce the risk of infection in hospitals that currently provide care for 1,000 patients.
The Board of Directors gave the green light to EIB support for the construction of a new submarine connection for telecommunications, 1,122 km long, between Spain, France and Italy with 15 million euros. This work will increase high-capacity, low-latency connectivity, while also improving links with Latin America, Africa and the Middle East.
President Hoyer confirmed that the new initiative InvestEU is now operational after the approval – on 1 April last by its own Investment Committee – of the European Union guarantee in favor of the EIB for an amount equal to 1.9 billion euros. This will strengthen the EIB’s support for investment in infrastructure sustainable, in the social sphere and in the development of skills, together with those dedicated to clean energy, education, the improvement of internet connections and water and wastewater infrastructures. The funding, which will draw on the EU guarantee, will complement investments across the EU, including in Finland, Greece, Ireland, Italy, Poland, Portugal and Spain.
The InvestEU program offers the EU the opportunity to provide crucial long-term funding to help one recovery sustainablecontributing to the mobilization of private investments for the realization of EU political priorities, such as the European Green Deal and the digital transition.
(Photo: Vidar Nordli on Unsplash)