The European Investment Bank (EIB) has approved €1.5 billion ($1.8 billion) of new financing to improve green energy generation and distribution; bring investments to cities’ health, education and water; enhance access to finance by business; and strengthen support for global distribution of COVID-19 vaccines.
The EIB has agreed to provide €533 million ($650 million) in financing to accelerate green energy investments. This will enable 1.5 million people across Africa to access clean energy and provide 55,000 solar home systems in cooperation with the German government. The EIB also agreed to support new energy investment in Italy and central Europe that will better integrate renewable energy into national transmission networks and accelerate the roll-out of smart meters.
The EBI is also allocating €250 million ($305 million) to strengthen access to finance by business around the Baltics. The bank has agreed to support a new streamlined business financing initi
