Energy projects win share of €13bn EU loan

Energy projects have won a share of loans worth €12.7 billion (£9.2bn) from the EU bank. They are part of the European Investment Bank’s (EIB) ‘Investment Plan for Europe’ and […]

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By Priyanka Shrestha

Energy projects have won a share of loans worth €12.7 billion (£9.2bn) from the EU bank.

They are part of the European Investment Bank’s (EIB) ‘Investment Plan for Europe’ and include 61 new loans for projects across Europe, Africa and Asia.

Those granted funding in the energy industry are a wind farm in southern Mongolia, an Icelandic geothermal power plant and large-scale investment in energy networks in southern England, Poland, Finland, Italy and Nicaragua.

A project to reduce sulphur emissions of ships registered in Finland and the Balearics will also share part of the funding.

Werner Hoyer, President of the EIB said: “The new framework for investment is essential to contain climate change and address its impact in the most vulnerable countries. Now our task is to do more of what we do best: use targeted investment to mobilise private capital, without which it will be impossible to find the necessary resources for our ambitious goals.”