European Investment Bank invests €49bn in environmental projects
In the past year, the European Investment Bank Group (EIB) invested more money in climate and environmental projects than ever before, EIB President Nadia Calviño said on Tuesday in Brussels.
In 2023, a total of €49 billion flowed into projects that take action on climate change and environmental sustainability. In the previous year it was €38 billion.
"With €349 billion of green investment mobilized since 2021, the EIB Group is on track to achieve the goal of €1 trillion of green financing supported by the end of the decade," the EIB group said in a statement.
Based in Luxembourg, the EIB is the bank of the European Union and claims to be the largest multilateral financing institution in the world.
Most recently, it has been particularly involved as a donor for climate action and also for supporting Ukraine.
The bank set up a fund in 2023 for the country under attack by Russia, in addition to aid of almost €2 billion since the start of the full-scale Russian invasion.
In total, the EIB Group signed new financing of almost €88 billion in 2023. In addition to climate projects, there was also financing to promote infrastructure and health.
More than €21 billion was invested in energy security to reduce Europe's dependence on fossil energy and advance the green transition.
