The board of directors of the European Investment Bank (EIB) has approved €543 million of investments in clean energy and businesses.
The new €543 million funding will support business financing in Italy, business innovation and the expansion of the Fira de Barcelona exhibition centre, as well as investments in clean energy.
Among these projects is €53 million financing for a new large-scale green hydrogen plant powered by solar energy in Spain, which will provide a clean energy alternative for energy-intensive industrial production.
In addition, the Board of Directors today approved the EIB’s new European Strategic Security Initiative aimed at continuing investments in European dual-use technologies and civil security infrastructure.
To strengthen energy security and make Europe less dependent on fossil fuels, the EIB will work closely with the European Commission and EU Member States to accelerate financing for renewable energy, energy efficiency and networks electrical.
EIB President Werner Hoyer also confirmed that the first two disbursements, totaling €129 million, of the Urgent Solidarity Response with Ukraine had already taken place, and that further disbursements are expected in the coming days.
The ordinary meeting of the EIB Board of Directors held today in March follows an extraordinary meeting, convened last Friday, which approved immediate financial support of €668 million for Ukraine.
This initial support program helps the Ukrainian authorities meet the most urgent financial needs by accelerating the disbursement of two loans initially granted to support SMEs and the agricultural sector in Ukraine.