ECONOMY

EIB Group adopts Climate Bank Roadmap 2021-2025

eib-group-adopts-climate-bank-roadmap-2021-2025

The European Investment Bank’s board of directors on Wednesday approved the EIB Group Climate Bank Roadmap 2021-2025 that will guide future EIB financing to support 1 trillion euros of climate action and environmental sustainability investments by 2030 and align all financing activities with the principles and goals of the Paris climate agreement by the end of 2020. 

The EIB approved €7.8 billion of new financing to support investment by businesses impacted by Covid-19, alongside backing clean transport, sustainable urban development, renewable energy, health and education investment across Europe and around the world.

This includes €400 million for the international COVAX initiative to ensure fair and equitable access to successful Covid-19 vaccines in Africa and scale up vaccine manufacturing in 92 developing and emerging economies alongside dedicated financing to help tourism companies impacted by the pandemic.