POST Online Media Lite Edition



 

EIB approves EUR 7.3 billion for climate action, renewable energy, clean transport, refugee support

Christian Fernsby |
The Board of Directors of the European Investment Bank (EIB) approved EUR 7.3 billion of new financing to accelerate climate action by companies and utilities, enhance civil protection from a more extreme climate and other disasters and confirmed EUR 4 billion for housing, health and education investment in countries welcoming refugees from the conflict in Ukraine.

Article continues below




The EIB approved a new streamlined financing initiative to support investment in housing, education and hospital by public authorities across the European Union in regions welcoming Ukrainian refugees.

The new dedicated EIB financing approved today was pledged by EIB President Werner Hoyer at the “Stand Up for Ukraine” Warsaw summit in April 2022.

The EIB backed new financing to increase renewable energy use, scale up energy efficiency investment, reduce pollution and strengthen civil protection against extreme weather.

A new EUR 900 million nationwide initiative to support deployment of smart meters, increase renewable energy and recycling and installation of energy efficient street lighting across Italy was approved.

The EIB also agreed to finance civil defence, disaster prevention and environmental protection investment in Italy. This includes investment in drones for use after a natural disaster, improving weather and hydrological monitoring and enhance air traffic control safety.

A new scheme to rehabilitate water and wastewater infrastructure in 80 municipalities across North Macedonia was also approved. This will tackle river pollution in areas where only 13% of households are connected to wastewater treatment, reduce the risk of flooding and benefit more than 600,000 people.

Sustainable travel to and from Barcelona airport will be transformed by EIB support for new trains to provide services every 15 minutes from the city centre and significantly increase rail transport which at present is far less than at comparable airports.

The EIB agreed to provide EUR 400 million to support targeted financing for small scale renewable energy and energy efficiency investment across Spain to be managed by Santander, the country’s largest bank.

This will improve access to climate action finance by homeowner associations to accelerate investment to upgrade energy efficiency in existing housing and back new construction that uses the highest environmental standards.

The EIB also agreed to support corporate research to develop more energy efficient water treatment and climate resilient and environmentally friendly roads, tunnels and bridges in Spain and innovation to develop safer and more energy efficient aircraft.

The EIB approved a EUR 250 million new joint financing programme with Italian regional development bank Finlombarda to small scale climate related investment by 1,200 local companies.

The EIB also agreed to participate in a USD 150 million fund to unlock equity investment in large and small scale renewable energy projects across Africa and a new EUR 300 million business financing programme to support investment by Jordanian companies affected by the COVID-19 pandemic.


What to read next

EIB: EUR 1.5 billion for businesses in Europe and North Africa
EIB agrees EUR 8 billion investment in education, energy, telecom and local businesses
EIB agrees EUR 5.8 billion for 29 projects

North Macedonia to take 500 million euros loan from Hungary

 
The new government of North Macedonia will take a loan of 500 million euros from the government of Hungary, the new Prime Minister Hristijan Mickoski announced yesterday after a meeting with his Hungarian counterpart Viktor Orban.
 
 

Latest

Citroën C3 Aircross, the most affordable compact SUV with 7 seats
Scotland secured record inward investment in 2023
Chinese seaport cities register soaring output of port economy in 2023
Canada and Alberta supporting Alberta Beef Producers

NEWS

U.S.: Dangerous heatwave

Severe thunderstorms across portions of U.S. Central Plains and Mississippi Valley; heat continues in Southern Plains
New Delhi airport roof collapses under heavy rain
Bulgaria: EPPO charges entrepreneur with fraud involving construction of dairy facility
Switzerland: Gotthard Base Tunnel on track to fully re-open in September
Heavy rain with flooding possible in southwest U.S. and upper Midwest; heat continues in east
 

BUSINESS

U.S. bankruptcies in June hit record high since 2020

Baker Hughes U.S. oil rig count unchanged at 479
EU-Kenya trade agreement comes into effect
U.S. drillers cut oil and gas rigs to 581
Washington, DC mayor announces $25 million federal grant for New York Avenue Bridge and Lincoln Connector Trail Project
EIB funds €1.2 billion for Denmark’s 1.1 GW largest wind farm
 

Trending Now

Africa Finance Corporation appoints executive director, financial services

Lindemann Metal Recycling: Markus Tandel named head of procurement and aftermarket

APM Terminals Suape advances sustainable port operations with major investment in all-electric handling equipment

Travis Leonard joins Lockton as CFO


POLITICS

Under Secretary Fernandez travels to Japan and Indonesia

€10.82 billion French State aid scheme to support offshore wind energy
EU approves Lufthansa Group-ITA Airways deal, subject to conditions
Europe imposes duties on Chinese electric vehicles
Australia and New Zealand to fund critical undersea cable infrastructure for Tonga
Poland to forge ahead with mega-airport plans
 

Today We Recommend

U.S. bankruptcies in June hit record high since 2020


Highlights 

DOF Group to acquire Maersk Supply Service for $1.11 billion

Airbus secures $2.5 billion German military satellite contract

Poland to forge ahead with mega-airport plans


COMPANIES

APM Terminals Suape advances sustainable port operations with major investment in all-electric handling equipment

BYD to build factory in Türkiye
U.S. awards Moderna $176 mln for vaccine development amid bird flu outbreak
Robertshaw to close Trnava, Slovakia plant, plant assets available for sale
DOF Group to acquire Maersk Supply Service for $1.11 billion
CureVac sells COVID-19, flu vaccines to GSK amid restructuring
 

CAREERS

Africa Finance Corporation appoints executive director, financial services

Lindemann Metal Recycling: Markus Tandel named head of procurement and aftermarket
Travis Leonard joins Lockton as CFO
African Development Bank appoints director of statistics department
Azentio expands its leadership team with two new appointments
Afreximbank announces board changes
 

ECONOMY

Eurozone reports modest Q1 GDP growth, stable annual inflation

Italy sees faster economic growth in Q1
Slovenia's economy expected to grow 0.9 pct in Q1
Italy faces deficit infringement procedure
Real GDP increased in all 50 U.S. states
Inflation continues to decline in Germany
 

EARNINGS

Lockton revenue $3.55 billion

Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
Dollar General Q1 operating profit decreased 26.3%
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

EU allocates €77 million in emergency support to farmers in Austria, Czechia, Poland and Portugal

Brazil opened its market for Australian mutton and lamb
Hong Kong suspends import of poultry meat and products from areas in Australia and U.S.
World's first: Denmark to impose CO2 tax on livestock
Finland to start bird flu vaccinations for humans, in world first
U.S. lifts restrictions on Mexican tomato imports
 

LEADERSHIP

Study finds workers misjudge wage markets

Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
Generating 'buzz' about new products can influence their success
Hiring 'problem directors' can knock up to 64% off firm's value
 

CRIME

Italy issues $6.4 million fine over Chinese cars badged as Italian

EU Commission fines Mondelēz €337.5 million for cross-border trade restrictions
HSBC pays penalties for alleged breaches of Consumer Data Right rules
Sanofi to settle thousands of Zantac cancer lawsuits
Former asset manager and board member of Geneva private bank referred to Swiss Federal Criminal Court
South Africa: SAP ordered to pay SIU $26m over 'invalid' Eskom contracts
 

Magazine

TRAVEL

Radisson Hotel Group debuts in the heart of Tunisia’s capital city, Tunis

Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
 

SEA, LAND, AIR

2025 Chevrolet Equinox stands apart with fresh looks and capability

Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
Pagani Huayra R Evo, 900 hp from 770 Nm
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

MESA/Boogie Celebrates 40-year partnership with John Petrucci

reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
 

HEALTH

New Alzheimer's treatment approved by FDA

UK introduced new pregnancy prevention measures for topiramate (Topamax)
UK: People with HIV can now donate eggs or sperm to start family
EU health watchdog urges vaccinations to stem surge in Whooping Cough cases
Brazil resumes insulin production after two decades
India launches first home-grown gene therapy for cancer
 

MEANTIME

India to build first phase of its own space station by 2028

Roscosmos chief approves schedule of creating Russian orbital station through 2033
Potentially habitable 'exo-Venus' with Earth-like temperature discovered
Rare species of wild bees discovered in Berlin
SLAC completes construction of largest digital camera ever built for astronomy
Solar eclipse next week in U.S., Mexico and Canada