The European Investment Bank has agreed to provide €20.4B in new funding for investments in energy, transport, business, education, water, and regional development in Europe and worldwide. This includes approving new financing for reconstructing roads and bridges in Ukraine and improving railway routes to Ukraine and Moldova.
Also, the EIB presented a special package of counter-guarantees to enhance access to €5B in financing for the wind energy sector to support companies producing wind energy equipment. This decision follows the commitment of the EU Bank to provide an additional €45B to the REPowerEU plan, which is designed to accelerate the decarbonization of the European economy and support the modern production of strategic technologies with zero carbon emissions.
In particular, the EIB will provide €5B to strengthen commercial bank guarantees for companies’ investments in the wind energy sector. The scheme is expected to support up to €80B of new wind investment and increase installed wind capacity by 32GW.