EIB Board of Directors approves €12.8 billion new financing for transport, energy and business investment

• €5 billion for high-speed rail, urban transport and upgrading ports
• €2.6 billion for onshore wind, upgrading electricity grids, small scale renewables and biofuels
• €2.9 billion for urban development, education, housing, health and water
• €2.1 billion for corporate innovation, steel and semiconductor business financing

The Board of Directors of the European Investment Bank (EIB) today approved €12.8 billion of new financing to upgrade sustainable transport, increase renewable energy use, build new student housing, improve earthquake and flood protection, and help business to expand.

“Today we approved nearly €13 billion for flagship projects around Europe and beyond. From high-speed rail in Portugal, sustainable transport in Kyiv, Lille and Helsinki, renewable energy in Lithuania and support for small businesses. These investments will improve lives, and they signal the EIB Group’s commitment to continue supporting targeted investment that will boost European resilience, productivity growth and innovation.” said EIB President Nadia Calviño.

Investing in better transport

The Board backed €5 billion of financing to improve rail transport across Europe and port infrastructure in Cape Verde.

The EIB approved investment to build a high-speed rail line between Porto and Lisbon, upgrade trains in Germany and the Czech Republic, replace trams and buses in Lille, construct a light rail line in Helsinki.

Additional support for rail and urban transport investment in Ukraine was also agreed.

Scaling up renewable energy

€2.6 billion of new energy investment was approved by the Board. This includes new wind and solar power schemes, upgrading and expanding electricity distribution, financing small scale renewable energy use by industry and backing biofuel and biomethane production.

Amongst the new clean energy schemes agreed today are construction of a new onshore windfarm in Lithuania, district heating in the Netherlands and small-scale renewable energy projects across France and Greece.

Backing corporate innovation and business investment

The Board agreed €2.1 billion of new business financing, including support to expand semiconductor manufacturing, develop digital distribution technologies, back more energy efficiency steel production and convert existing industrial facilities to enable produce renewable packaging.

New schemes to improve access to finance by business in Ukraine and female entrepreneurs in Africa and the Caribbean were also agreed.

Improving health, education, water, and natural catastrophe preparedness

New investment to upgrade healthcare in Belgium and Malta, improve higher education in the Netherlands, expand student housing in Cyprus and tackle wastewater challenges in Germany were approved.

Backing for rehabilitation of buildings and infrastructure damaged by recent earthquakes and measures to address the risks of landslides and floods in Italy was also agreed.

Supporting business, transport and emergency response investment in Ukraine

Today’s board also approved investment to ensure that companies across Ukraine can access finance, upgrade urban and national rail links and to create a new 112 emergency call system in the country.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400,000 companies and 5.4 million jobs.