The European Investment Bank (EIB) approved EUR 12.6 billion (US$ 14.91 billion) of new financing for projects across Europe and around the world.

New financing agreed includes more than EUR 3.1 billion (US$ 3.66 billion) of COVID-19-related investment to improve public health, strengthen public services, and back investment by companies in sectors hit by the pandemic. Since the start of the COVID-19 crisis, the EIB has approved EUR 20.1 billion (US$ 23.79 billion) to enable public and private partners around the world to better tackle health, social and economic challenges. The EIB Board also backed investment in agriculture, water, housing, telecommunications, and urban development across Europe, as well as in Africa, Asia, and Latin America.

EIB has also approved EUR 2 billion (US$ 2.36 billion) loan to transform travel with high-speed rail in Southern Italy. Passengers traveling between Rome, Naples, and Bari will from 2027 benefit from reduced journey times, a quicker and environmentally friendly alternative to car transport, and improved connections with the largest loan the EIB ever approved.

EIB approved EUR 3.6 billion (US$ 4.26 billion) to ensure entrepreneurs and employers can continue to invest and adapt to new challenges posed by COVID-19 is crucial. Companies in the Baltics, Benelux, Cyprus, France, Italy, Spain, Ukraine, Moldova and Georgia as well as East Africa, Morocco, the Middle East and the Pacific will benefit from new targeted COVID-19 financing initiatives from EIB.

EUR 3 billion (US$ 3.55 billion) for renewable energy and energy transition to support energy investment that will reduce energy use and increase the generation of clean energy across Europe and around the world.