EU bank to provide over 1 billion euros for urban transport
Urban mobility

EU bank to provide over 1 billion euros for urban transport

Wednesday, 27 November 2019

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.”

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Photo: European Union / Vincent van Doonik

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