EU bank to provide over 1 billion euros for urban transport

EU bank to provide over 1 billion euros for urban transport

 

The European Investment Bank has announced more than €1.4 billion worth of new city finance for projects on transport, energy efficiency and others.

The new loans–which will support Rotterdam, Warsaw, Barcelona, Valencia, and others–is part of the bank’s aim to allocate at least 50 percent of its financing activities for projects that support climate action and environmental sustainability. A “significant share” of this will be implemented in cities.

Karl-Heinz Lambertz, President of the European Committee of the Regions, said: “The 2019 renewed Action Plan will contribute to support high-quality projects that benefit citizens and businesses alike and leaves no region behind.”

Continue reading this story on cities-today.com

Photo: European Union / Vincent van Doonik

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