Central Asia

EIB Global has signed its largest ever financing agreement for investment in Mongolia. It will support a pioneering initiative to address the degradation and overgrazing of grasslands across Mongolia by backing investment in climate-resilient and low-carbon cities and local agribusiness. The scheme will help to better protect fragile grasslands threatened by unsustainable livestock overgrazing, more frequent extreme weather and less frequent rains, and an average temperature increase of 2.1°C over the past 70 years.

The European Investment Bank (EIB) has signed an agreement with Teplarny Brno for a €75 million loan to co-finance the upgrade of the heat generation and distribution system in the City of Brno, in the Czech Republic. The project includes construction of a combined heat and power biomass unit (CHP) fuelled by wood chips, which will contribute to the reduction of greenhouse-gas emissions and pollution.

Together with the Asian Development Bank, the Asian Infrastructure Investment Bank and the European Bank for Reconstruction and Development, the EIB will provide a collective $396.4 million to finance the construction and operation of three solar photovoltaic plants with a total output of 897 MWac.