EIB backs €6.5bn global spending programme

Building on the EIB’s role as the first and largest issuer of green bonds worldwide, the board approved support for a new $2 billion initiative to strengthen the use of green bonds in emerging markets in cooperation with a number of international financial institutions. This will address the limited issuance of green bonds in developing countries most vulnerable to a changing climate.

In line with the EIB’s broad engagement to support transport across sub-Saharan Africa, new financing was also approved for a rapid transit bus network in the Senegalese capital Dakar, including construction of 23 stations and acquisition of 144 new buses.

The EIB approved support to upgrade the Great North Road, a key access route to Indian Ocean ports in Zambia and also agreed more than €1.3 billion of new financing to support investment by companies across Europe.

This includes support for leasing activity in Poland, financing for export-focused firms and climate related investment in the Czech Republic and new credit lines with leading local banks in Finland, Italy, Spain and Portugal.

Werner Hoyer, president of the EIB, said: “New financing approved today demonstrates the EIB’s firm commitment to improving education, energy, transport, housing and water needs and ensuring that businesses can expand.

“This includes both new initiatives to transform the global green bond market and improve daily life in western, central and southern Africa.”