The bank will end its financing of oil, gas, and coal projects after 2021, a policy that will make the EU’s lending arm the first multilateral lender to rule out financing for projects that contribute to the climate crisis.
Institution: European Investment Bank
EU and Bill Gates launch ¬100m clean energy innovation fund
The European Commission, European Investment Bank and Breakthrough Energy Ventures have launched ‘Breakthrough Energy Ventures Europe’: a ¬100m fund to support investments in clean energy.
The European Investment Bank and Palestine Investment Fund offer $18 million for school solar projects in Palestine
The European Investment Bank (EIB) and the Palestine Investment Fund (PIF) revealed the signing of a loan agreement worth $18 million which will finance the installation of 35 megawatts (MW) of solar PV systems on 500 public schools in the West Bank.
EU bank to invest ¬300 million in Chinese climate projects
The ¬300 million investment, signed with the Export-Import Bank of China (Eximbank), will be used on a range of climate projects, including sustainable transport, energy efficiency, renewable energy, and water infrastructure.
European Investment Bank commits $25 million to strengthen African off-grid solar access
The $25 million in financing from the EIB will enable d.light design to develop the installation of solar kits in sub-Saharan Africa and aim to hit its goal of reaching 10 million solar installations within 5 years.