EIB approves EUR 3.6 billion for sustainable transport, clean energy, housing and business investment and EUR 2 billion for refugee investment in Poland

• EUR 2 billion for refugee related investment in Poland
• EUR 2 billion for urban transport, hydrogen mobility and rail
• EUR 1.4 billion for corporate innovation and business financing
• EUR 278 million for renewable energy, water and housing

EUR 3.6 billion of new financing approved by the European Investment Bank (EIB) today will help accelerate clean transport, business growth and innovation, renewable energy, water and housing investment.

At its June meeting, the Board of Directors of the EIB also confirmed the first EIB backed national financing to support Ukrainian refugees who fled to the EU, supporting investment in health, education and housing across Poland.

“Today we approved the first tranche of EU Bank financing to help ensure that refugees from Russia’s brutal invasion of Ukraine are welcomed with dignity,” said Werner Hoyer, President of the EIB. “This is our first operation under the plan we approved last month to support Ukraine’s EU neighbours,” he added.

“Today we also approved financing to back innovation, business investment and climate action across Europe and around the world. New EIB funds will help transform urban transport across Europe, develop new electric and hydrogen powered transport and scale up renewable energy use in communities across Africa, Asia and the Middle East. These are among the regions most exposed to the impact of a changing and more extreme climate. And the signs that this is happening with alarming speed are multiplying. We have no choice but to act. Now.” said Werner Hoyer.

EUR 2 billion to improve public services for Ukrainian refugees in Poland

The EIB approved the first national allocation under a new financing initiative agreed last month to support investment for Ukrainian refugees by public authorities across Poland.

The new EIB backed credit line for Poland follows the Board’s approval, on 19 May, of a plan to invest EUR 4 billion in support of Ukrainian refugees to EU and other neighbouring countries. The Solidarity Package for Ukraine has been prepared in cooperation with the European Commission.

The EIB credit line will make financing available for the development of key infrastructure and services for refugees and host communities, such as housing, schools, hospitals and access to jobs. EIB financing can also cover eligible operational expenditure related to the supply of equipment, facilities and services for the integration of war refugees in host countries.

The new initiative will finance investment by national, regional and municipal authorities in Poland, in cooperation with national promotional bank, BGK.

EUR 2 billion for sustainable transport in Europe and Africa

The EIB today backed new financing to expand metro rail services in Madrid and construction of a fourth line in Prague.

The 7km extension of Line 11 in Madrid will include 5 new and upgraded stations and the 5km first phase of Line D in Prague will use driverless trains, include five new stations, and cater for an expected 30 million passengers a year once fully operational.

The EIB also approved corporate research to improve hydrogen powered bus, truck and car transport, development of advanced driver assistance systems to improve vehicle and pedestrian safety and innovation and advanced manufacturing of electric cars.

The EIB further agreed to support upgrading of a national rail network in Africa, including improving flood protection and signalling, and rolling out safety enhancements.

EUR 1.4 billion for corporate innovation and business investment

The EIB backed new business financing programmes in Austria, the Czech Republic, Germany, Hungary, Italy, Slovakia, Spain and Portugal and corporate innovation.

This includes corporate financing to support development of specialist medical and healthcare digitalisation software and enhance production of semiconductors.

New business financing initiatives with local financial partners include dedicated programmes to support innovation and encourage greater climate related business investment to improve energy efficiency through modernisation and replacement of energy intensive equipment.

EUR 278 million for social housing, renewable energy and water

New financing for construction of 640 barrier free and energy-efficient social and affordable homes in Hannover was approved.

The EIB also agreed to participate in a EUR 455 million fund to unlock equity investment in large and small scale renewable energy projects across Africa, Central Asia, the Middle East and Caucasus and back investment to improve access to water in the Middle East.

Overview of projects approved by the EIB Board