HomeWorldThe EIB approves 12.8 billion euros in new financing...

The EIB approves 12.8 billion euros in new financing that includes high speed in Portugal

The EIB Board of Directors approved 12.8 billion euros in new financing to improve sustainable transport, increase the use of renewable energy among other projects

This Thursday, the European Investment Bank (EIB) approved new financing of 12.8 billion euros, including Portugal’s high-speed train, for a total of 5 billion for European railways and port infrastructure in Cape Verde.

“The EIB Board of Directors today approved €12.8 billion in new financing to improve sustainable transport, increase the use of renewable energy, build new student housing, improve protection against earthquakes and floods and help businesses expand” , indicates the institution in a statement.

The announcement was made on the day European Union (EU) finance ministers gather in Luxembourg for a Eurogroup meeting. in an inclusive format (including not only countries with a single currency), in which a debate on the role of the EIB is planned.

In a statement, the president of the EIB, Nadia Calviño, highlights the approval of “almost 13 billion euros for emblematic projects throughout Europe and beyond,” specifying that the issue ranges “from the high-speed train in Portugal, to transport sustainability in kyiv, Lille and Helsinki, to renewable energy in Lithuania and support for small businesses.”

“These investments will improve people’s lives and signal the EIB Group’s commitment to continue supporting targeted investments that will strengthen resilience, productivity growth and innovation in Europe,” he adds, without specifying.

Questioned by Lusa, the EIB indicated that details on the financing of the high-speed train will only be disclosed when the project is contracted.

In the statement, the European Union bank explains, however, that its board of directors “approved investments for the construction of a high-speed railway line between Porto and Lisbon, the modernization of trains in Germany and the Czech Republic, the replacement of trams and buses in Lille and the construction of a light rail line in Helsinki.”

At the same time, The EIB “supported financing of 5 billion euros to improve rail transport throughout Europe and port infrastructure in Cape Verde”.

The total “pie” approved this Thursday also includes 2.6 billion euros of new investments in the energy sector, 2.1 billion euros of financing for companies, including support for the expansion of semiconductor manufacturing, the development of digital distribution technologies and support for more energy efficient steel. production and conversion of existing industrial facilities to enable the production of renewable packaging.

The EIB is the long-term credit institution of the European Union, owned by its Member States, which finances solid investments that contribute to the community’s political objectives in terms of innovation, sustainable development, social and territorial cohesion and climate neutrality.

The EIB Group, which also includes the European Investment Fund, has signed a total of €88 billion in new financing for more than 900 projects in 2023which should mobilize a total of around 320 billion euros in investments, supporting 400 thousand companies and 5.4 million jobs.

Source: Observadora

- Advertisement -

Worldwide News, Local News in London, Tips & Tricks

- Advertisement -