European Investment Bank to finance 1 tln euros for climate actions by 2030

Jakarta (Indonesia Window) – The European Investment Bank (EIB) will finance up to 1 trillion euros for climate actions by 2030, EIB’s Vice President Gelsomina Vigliotti has said.

Two years ago EIB confirmed its ambitious roadmap for climate actions, its target that by 2025, 50 percent of its investments are directed towards climate actions, Vigliotti said at a media briefing here on Friday (Feb. 18).

Not only these investments are in the form of fresh funds, but also spent for multiply the resources owned by business actors, foreign governments, local governments, and other relevant stakeholders in climate change mitigations.

Vigliotti said her side wanted to promote the use of new and renewable energies, as it is also important to fund new environmentally friendly technologies for that.

In addition to providing funding, the EIB is also involved in the preparation of financed climate change projects.

So far, apart from operating in Europe, the EIB also operates outside the region by funding an average of 7 to 8 billion euros per year. For this reason, since January 2022, the EIB has started to establish branch offices outside Europe, including in Indonesia.

“With this branch, we can increase our capabilities regarding the impacts of our investments so that we can make strategic investments in the countries we are located in,” she said.

In 2021, the EIB invested to support economic recovery in Europe and outside Europe affected by COVID-19 by promoting the use of digital technology for more sustainable growth.

“Sustainability and digitization are the two aspects that underpin the recovery and we want to be able to put more resources into digitization and sustainable growth,” Vigliotti said.

Reporting by Indonesia Window