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EIB approves EUR 2.2 bln for climate action projects in Europe

Green Energy

The European Investment Bank's board of directors last week approved EUR 2.2 billion (USD 2.6 billion) of new financing for clean energy, energy-efficient housing and climate action, EIB said in a statement on its website.

The financing will help grow wind and solar energy in Spain and Portugal, and back grid upgrades in Poland. The funds will also support energy efficiency improvements in Hungary and Finland.

The bank further greenlit targeted financing schemes to speed up investment in small-scale renewable energy and climate action projects in Austria, Poland, Latin America, and Africa. The EIB board also endorsed a proposal to create a development branch to bolster its impact outside the European Union. 

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