In 2010, the European Investment Bank (EIB) increased financing for climate action projects to €19bn (£16bn), representing an impressive 30% of its lending in the European Union.
Significantly up from £13.6bn the year before, this is a new landmark in supporting sustainable growth and building a low-carbon future in Europe.
In 2010, total EIB lending reached £61bn – £53.6bn in the EU and £7.6bn outside the EU –supporting over 460 large-scale projects. This marks a gradual return to pre-crisis levels as the Bank adapts its activity to the economic environment.
EIB President Philippe Maystadt said: “We are very proud of our record volume on climate action projects. Building a better and more sustainable future is the driving force behind everything we do.”
The focus of EIB support for climate action projects remains energy (renewable energy and energy efficiency) and sustainable transport.
The Bank made a successful effort to increase the share of renewable energy and energy efficiency in its portfolio.
Looking ahead, the EIB will help to implement the Europe 2020 strategy, the EU’s climate action targets and its external policy objectives.